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Monthly report

Dubai property market — December 2023

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

Sales11,194Registered in December 2023up24.8% vs a year earlier
Total valueAED 40.76BRegistered in December 2023Across 110 communities
Price per sqftAED 1,452/sqftMedian across December 2023up6.7% vs a year earlier
Sale priceAED 1.50MMedian across December 202350% sold off-plan

In a sentence

The Land Department registered 11,194 property sales in December 2023, worth AED 40.76B in total, across 110 communities. That is 25% more than the same month a year earlier.

The median sale was AED 1,500,888 at AED 1,452/sqft, 6.7% above the same month last year. 50% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 1,309 registered sales, while Palm Jumeirah took the most money at AED 4.04B.

Against the previous month, Madinat Dubai Almelaheyah rose 71% to 437 sales, while Palm Jabal Ali fell 63% to 104.

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 December 2023, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth1,309+4.3%AED 1.45BAED 800KAED 1,236/sqft68%
Business Bay1,050+12.3%AED 2.27BAED 1.42MAED 2,156/sqft50%
Hadaeq Sheikh Mohammed Bin Rashid762+59.1%AED 1.96BAED 1.67MAED 2,115/sqft64%
Marsa Dubai750+31.6%AED 3.31BAED 3.43MAED 3,624/sqft54%
Al Merkadh498-21.6%AED 1.16BAED 1.64MAED 1,987/sqft71%
Madinat Dubai Almelaheyah437+71.4%AED 1.33BAED 2.07MAED 2,128/sqft98%
Wadi Al Safa 2431-11.1%AED 600.30MAED 504KAED 104/sqft12%
Al Thanyah Fifth407+9.4%AED 1.66BAED 1.40MAED 1,336/sqft44%
Burj Khalifa394-40.8%AED 1.32BAED 2.35MAED 2,767/sqft35%
Al Barshaa South Third342+24.4%AED 335.26MAED 815KAED 1,100/sqft64%
Wadi Al Safa 5328+6.5%AED 614.41MAED 891KAED 850/sqft39%
Madinat Al Mataar284-58.1%AED 785.80MAED 2.00MAED 1,179/sqft56%
Al Hebiah Third278+33.7%AED 494.79MAED 1.14MAED 1,528/sqft69%
Jabal Ali First270-42.9%AED 727.36MAED 1.15MAED 1,016/sqft28%
Al Yufrah 1262-18.4%AED 1.06BAED 4.29MAED 1,097/sqft98%

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
Palm JumeirahAED 4.04B173
Marsa DubaiAED 3.31B750
Palm Jabal AliAED 3.02B104
Al Yelayiss 5AED 2.43B1
Business BayAED 2.27B1,050
Hadaeq Sheikh Mohammed Bin RashidAED 1.96B762
Al Thanyah FifthAED 1.66B407
Al Barsha South FourthAED 1.45B1,309
Madinat Dubai AlmelaheyahAED 1.33B437
Burj KhalifaAED 1.32B394

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
Madinat Dubai Almelaheyah437+71.4%
Palm Jabal Ali104-62.7%
Wadi Al Safa 3240+60.0%
Hadaeq Sheikh Mohammed Bin Rashid762+59.1%
Madinat Al Mataar284-58.1%
Palm Deira118-49.1%
Jabal Ali First270-42.9%
Burj Khalifa394-40.8%
Al Hebiah Fifth110-37.1%
Al Jadaf93+36.8%

The largest sales of December 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
19 Dec 2023Al Yelayiss 5—LandExisting PropertiesNot specified83,867,631 sqftAED 29/sqftAED 2,427,140,685
11 Dec 2023Palm JumeirahROYAL AMWAJPalm JumeirahLandExisting PropertiesNot specified858,638 sqftAED 1,095/sqftAED 940,000,000
18 Dec 2023Palm Jumeirah—Palm JumeirahBuildingExisting PropertiesNot specified507,475 sqftAED 1,419/sqftAED 720,000,000
27 Dec 2023Zaabeel SecondAkala Hotels and ResidencesDubai International Financial CenterLandExisting PropertiesNot specified138,466 sqftAED 4,333/sqftAED 600,000,000
14 Dec 2023Palm JumeirahComo ResidencesPalm JumeirahFlatOff-Plan Properties5 B/R21,949 sqftAED 22,780/sqftAED 500,000,000
26 Dec 2023Al Thanyah FifthSERENIA DISTRICT - EASTJumeirah IslandsLandExisting PropertiesNot specified459,764 sqftAED 993/sqftAED 456,523,000
22 Dec 2023Business BayOne by BinghattiBusiness BayBuildingExisting PropertiesNot specified108,300 sqftAED 3,300/sqftAED 357,390,378
12 Dec 2023Trade Center Second—BuildingExisting PropertiesNot specified10,000 sqftAED 30,500/sqftAED 305,000,000
6 Dec 2023Al Thanyah FifthMERCER HOUSEDMCC Master CommunityLandExisting PropertiesNot specified116,003 sqftAED 2,310/sqftAED 268,021,368
26 Dec 2023Wadi Al Safa 4—City Of ArabiaLandExisting PropertiesNot specified1,778,164 sqftAED 120/sqftAED 213,399,627

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.