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Quarterly report

Dubai property market — Q1 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside Q1 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales30,823Registered in Q1 2023up54.1% vs a year earlier
Total valueAED 88.75BRegistered in Q1 2023Across 134 communities
Price per sqftAED 1,285/sqftMedian across Q1 2023up14.2% vs a year earlier
Sale priceAED 1.53MMedian across Q1 202351% sold off-plan

In a sentence

The Land Department registered 30,823 property sales in Q1 2023, worth AED 88.75B in total, across 134 communities. That is 54% more than the same quarter a year earlier.

The median sale was AED 1,533,753 at AED 1,285/sqft, 14.2% above the same quarter last year. 51% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 3,283 registered sales, while Marsa Dubai took the most money at AED 8.37B.

Against the previous quarter, Al Yelayiss 2 rose 619% to 1,036 sales, while Al Hebiah Sixth fell 86% to 81.

Sales by quarter

Price per square foot by quarter

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in Q1 2023, and how each moved against the quarter before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth3,283+67.6%AED 3.04BAED 676KAED 1,063/sqft69%
Business Bay2,712-9.8%AED 6.14BAED 1.44MAED 2,037/sqft55%
Marsa Dubai2,210-2.3%AED 8.37BAED 2.50MAED 2,704/sqft45%
Al Khairan First1,752+96.6%AED 7.39BAED 2.25MAED 2,018/sqft82%
Al Hebiah Fifth1,443+41.9%AED 4.45BAED 2.27MAED 1,225/sqft0%
Al Merkadh1,371-41.9%AED 3.06BAED 1.38MAED 1,800/sqft74%
Wadi Al Safa 51,346+84.6%AED 2.64BAED 2.09MAED 988/sqft71%
Hadaeq Sheikh Mohammed Bin Rashid1,115-13.5%AED 3.73BAED 1.94MAED 1,878/sqft65%
Burj Khalifa1,105+15.6%AED 4.57BAED 2.65MAED 2,521/sqft49%
Al Thanyah Fifth1,064+13.3%AED 2.40BAED 946KAED 1,041/sqft38%
Al Yelayiss 21,036+619.4%AED 1.04BAED 661KAED 1,052/sqft89%
Jabal Ali First868-43.5%AED 1.59BAED 871KAED 912/sqft12%
Al Barshaa South Third775+38.4%AED 758.58MAED 569KAED 1,034/sqft74%
Palm Jumeirah773-50.4%AED 6.67BAED 3.71MAED 2,602/sqft31%
Al Warsan First700+19.7%AED 436.88MAED 345KAED 519/sqft20%

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 8.37B2,210
Al Khairan FirstAED 7.39B1,752
Palm JumeirahAED 6.67B773
Business BayAED 6.14B2,712
Burj KhalifaAED 4.57B1,105
Al Hebiah FifthAED 4.45B1,443
Hadaeq Sheikh Mohammed Bin RashidAED 3.73B1,115
Al MerkadhAED 3.06B1,371
Al Barsha South FourthAED 3.04B3,283
Wadi Al Safa 3AED 2.89B617

Biggest movers

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

CommunitySalesChange
Al Yelayiss 21,036+619.4%
Al Yufrah 1435+417.9%
Wadi Al Safa 3617+173.0%
Madinat Dubai Almelaheyah378+129.1%
Al Hebiah Second170+102.4%
Al Khairan First1,752+96.6%
Al Hebiah Sixth81-86.0%
Wadi Al Safa 51,346+84.6%
Al Kifaf337+68.5%
Al Barsha South Fourth3,283+67.6%

The largest sales of Q1 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
27 Mar 2023Al Khairan FirstCREEKSIDE 18Dubai Creek HarbourLandExisting PropertiesNot specified7,303,768 sqftAED 215/sqftAED 1,570,838,790
27 Mar 2023Al Khairan First—Dubai Creek HarbourLandExisting PropertiesNot specified45,107,594 sqftAED 35/sqftAED 1,570,838,790
2 Jan 2023Marsa DubaiDAMAC BAYDubai HarbourLandExisting PropertiesNot specified116,767 sqftAED 5,336/sqftAED 623,067,617
21 Mar 2023Palm JumeirahThe Alba Residences by OmniyatPalm JumeirahLandExisting PropertiesNot specified571,280 sqftAED 963/sqftAED 550,000,000
14 Feb 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties9 B/R38,970 sqftAED 10,521/sqftAED 410,000,000
27 Feb 2023Al WaslDAMAC CITY 2Dubai Water CanalLandExisting PropertiesNot specified76,750 sqftAED 5,173/sqftAED 397,044,000
2 Feb 2023Business BayOne by BinghattiBusiness BayBuildingExisting PropertiesNot specified108,300 sqftAED 2,031/sqftAED 220,000,000
27 Feb 2023Business BayCANAL HEIGHTS 2Business BayBuildingExisting PropertiesNot specified61,701 sqftAED 3,375/sqftAED 208,246,000
9 Feb 2023Palm JumeirahCLUB VILLASPalm JumeirahVillaExisting Properties7 B/R26,033 sqftAED 7,030/sqftAED 183,000,000
27 Feb 2023Business BayCANAL CROWNBusiness BayLandExisting PropertiesNot specified45,498 sqftAED 3,699/sqftAED 168,282,000

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.