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Monthly report

Dubai property market — May 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside May 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales11,584Registered in May 2023up78.2% vs a year earlier
Total valueAED 33.61BRegistered in May 2023Across 108 communities
Price per sqftAED 1,317/sqftMedian across May 2023up9.2% vs a year earlier
Sale priceAED 1.53MMedian across May 202347% sold off-plan

In a sentence

The Land Department registered 11,584 property sales in May 2023, worth AED 33.61B in total, across 108 communities. That is 78% more than the same month a year earlier.

The median sale was AED 1,531,500 at AED 1,317/sqft, 9.2% above the same month last year. 47% of sales were off-plan.

Marsa Dubai was the busiest community with 1,393 registered sales, and also took the most money at AED 5.53B.

Against the previous month, Nadd Hessa rose 172% to 188 sales.

Sales by month

Price per square foot by month

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in May 2023, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Marsa Dubai1,393+104.9%AED 5.53BAED 3.16MAED 3,617/sqft61%
Al Barsha South Fourth1,250+12.2%AED 1.33BAED 725KAED 1,050/sqft66%
Business Bay742+28.8%AED 1.58BAED 1.20MAED 1,564/sqft32%
Al Thanyah Fifth602+102.7%AED 1.04BAED 1.17MAED 1,243/sqft47%
Burj Khalifa551+81.3%AED 2.37BAED 2.77MAED 2,385/sqft38%
Wadi Al Safa 5508+75.8%AED 1.03BAED 2.28MAED 1,065/sqft77%
Al Barshaa South Third480+128.6%AED 453.84MAED 671KAED 1,326/sqft77%
Hadaeq Sheikh Mohammed Bin Rashid466-11.7%AED 1.71BAED 1.66MAED 1,820/sqft66%
Al Merkadh422+46.0%AED 853.41MAED 1.15MAED 1,800/sqft60%
Jabal Ali First390+32.7%AED 676.10MAED 1.16MAED 957/sqft23%
Al Khairan First367-10.0%AED 824.14MAED 2.00MAED 2,023/sqft52%
Al Yelayiss 2291+89.0%AED 446.71MAED 1.82MAED 964/sqft74%
Palm Jumeirah272+36.7%AED 2.49BAED 4.25MAED 2,801/sqft28%
Al Hebiah Fifth266-4.0%AED 700.29MAED 2.21MAED 1,269/sqft0%
Me'Aisem First252+55.6%AED 848.69MAED 882KAED 1,091/sqft13%

Where the money went

Ranked by total registered value rather than count — a different list, and the one that shows where capital actually landed.

CommunityValueSales
Marsa DubaiAED 5.53B1,393
Palm JumeirahAED 2.49B272
Burj KhalifaAED 2.37B551
Hadaeq Sheikh Mohammed Bin RashidAED 1.71B466
Business BayAED 1.58B742
Wadi Al Safa 3AED 1.52B226
Al Barsha South FourthAED 1.33B1,250
Al Thanyah FifthAED 1.04B602
Wadi Al Safa 5AED 1.03B508
Madinat Al MataarAED 975.08M186

Biggest movers

Change in registered sales against the previous month. Limited to communities with at least 50 sales in both — below that a swing is noise.

CommunitySalesChange
Nadd Hessa188+172.5%
Wadi Al Safa 3226+137.9%
Al Barshaa South Third480+128.6%
Marsa Dubai1,393+104.9%
Al Thanyah Fifth602+102.7%
Al Hebiah Third201+93.3%
Al Yelayiss 2291+89.0%
Burj Khalifa551+81.3%
Wadi Al Safa 5508+75.8%
Madinat Al Mataar186+73.8%

The largest sales of May 2023

Each row links to its own register record, so any figure in this report can be traced to the transactions behind it.

Registered property transactions from the Dubai Land Department
DateCommunityProject / buildingTypeBedsSizePrice/sqftPrice
23 May 2023Madinat Al Mataar—Dubai World CentralLandExisting PropertiesNot specified14,656,269 sqftAED 45/sqftAED 659,538,246
10 May 2023Al Safouh SecondDAMAC CASASite ALandExisting PropertiesNot specified80,356 sqftAED 3,733/sqftAED 300,000,000
25 May 2023Madinat Dubai AlmelaheyahOceanz 2 By DanubeDubai Maritime CityLandExisting PropertiesNot specified53,886 sqftAED 3,143/sqftAED 169,387,400
10 May 2023Burj KhalifaVOLTA TOWERBuildingExisting PropertiesNot specified10,000 sqftAED 15,000/sqftAED 150,000,000
9 May 2023Saih Shuaib 4—Dubai Industrial CityLandExisting PropertiesNot specified1,371,446 sqftAED 108/sqftAED 148,253,308
16 May 2023Island 2Bulgari Ocean MansionsJumeira BayLandExisting PropertiesNot specified13,766 sqftAED 9,807/sqftAED 135,000,000
11 May 2023Island 2—Jumeira BayLandExisting PropertiesNot specified24,438 sqftAED 5,238/sqftAED 128,000,000
29 May 2023Business BayLuxury Family Residence IIBusiness BayHotelOff-Plan PropertiesNot specified269,252 sqftAED 464/sqftAED 125,000,000
15 May 2023Island 2BV RESIDENCESJumeira BayFlatExisting Properties4 B/R12,114 sqftAED 10,071/sqftAED 122,000,000
8 May 2023Hadaeq Sheikh Mohammed Bin Rashid—DUBAI HILLS - HILLS VIEWLandExisting PropertiesNot specified27,449 sqftAED 4,372/sqftAED 120,000,000

Source: Dubai Land Department open data, retrieved from the Digital Dubai data.dubai platform. Figures cover registered transactions and Ejari-registered tenancy contracts, and are statistical summaries of public record — not a valuation of any individual property. Registration data can be amended or backdated by the source after first publication.