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Quarterly report

Dubai property market — Q4 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside Q4 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales35,040Registered in Q4 2023up22.6% vs a year earlier
Total valueAED 121.68BRegistered in Q4 2023Across 141 communities
Price per sqftAED 1,430/sqftMedian across Q4 2023up5.7% vs a year earlier
Sale priceAED 1.55MMedian across Q4 202350% sold off-plan

In a sentence

The Land Department registered 35,040 property sales in Q4 2023, worth AED 121.68B in total, across 141 communities. That is 23% more than the same quarter a year earlier.

The median sale was AED 1,546,642 at AED 1,430/sqft, 5.7% above the same quarter last year. 50% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 4,071 registered sales, while Palm Jabal Ali took the most money at AED 14.22B.

Against the previous quarter, Wadi Al Safa 2 rose 319% to 976 sales, while Al Hebiah Sixth fell 81% to 95.

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 Q4 2023, and how each moved against the quarter before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth4,071+13.5%AED 5.01BAED 800KAED 1,234/sqft69%
Al Merkadh2,934-14.8%AED 5.29BAED 1.28MAED 1,850/sqft84%
Business Bay2,706-5.5%AED 5.77BAED 1.42MAED 2,046/sqft49%
Marsa Dubai2,102-2.0%AED 8.60BAED 3.06MAED 3,160/sqft49%
Hadaeq Sheikh Mohammed Bin Rashid1,748+69.7%AED 5.07BAED 1.85MAED 2,082/sqft68%
Burj Khalifa1,536+40.7%AED 5.16BAED 2.30MAED 2,735/sqft45%
Al Thanyah Fifth1,171-33.9%AED 3.61BAED 1.45MAED 1,302/sqft43%
Jabal Ali First1,138-1.0%AED 2.26BAED 1.05MAED 1,088/sqft34%
Madinat Al Mataar1,119+0.4%AED 3.33BAED 2.44MAED 1,062/sqft58%
Madinat Dubai Almelaheyah1,016+304.8%AED 3.97BAED 2.10MAED 1,926/sqft98%
Wadi Al Safa 2976+318.9%AED 1.79BAED 568KAED 104/sqft13%
Wadi Al Safa 5942-32.2%AED 1.85BAED 1.00MAED 874/sqft46%
Al Barshaa South Third870-53.7%AED 901.86MAED 817KAED 1,162/sqft67%
Al Hebiah Fourth800+6.0%AED 2.57BAED 744KAED 931/sqft27%
Al Yufrah 1747+30.6%AED 2.41BAED 2.68MAED 1,101/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 Jabal AliAED 14.22B572
Palm JumeirahAED 8.89B495
Marsa DubaiAED 8.60B2,102
Business BayAED 5.77B2,706
Al MerkadhAED 5.29B2,934
Burj KhalifaAED 5.16B1,536
Hadaeq Sheikh Mohammed Bin RashidAED 5.07B1,748
Al Barsha South FourthAED 5.01B4,071
Madinat Dubai AlmelaheyahAED 3.97B1,016
Al Thanyah FifthAED 3.61B1,171

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
Wadi Al Safa 2976+318.9%
Madinat Dubai Almelaheyah1,016+304.8%
Mirdif143+142.4%
Al Hebiah Sixth95-81.3%
Hadaeq Sheikh Mohammed Bin Rashid1,748+69.7%
Zaabeel Second128-64.5%
Al Khairan First495-57.5%
Al Barshaa South Third870-53.7%
Al Hebiah Fifth522-50.8%
Nad Al Shiba First264+41.9%

The largest sales of Q4 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
9 Oct 2023Al Safouh Second—BuildingExisting PropertiesNot specified2,753,158 sqftAED 666/sqftAED 1,834,286,000
9 Oct 2023Palm Jumeirah—Palm JumeirahLandExisting PropertiesNot specified584,346 sqftAED 1,711/sqftAED 1,000,000,000
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
9 Oct 2023Palm Deira—Palm DeiraLandExisting PropertiesNot specified2,599,643 sqftAED 231/sqftAED 600,000,000
3 Nov 2023Madinat Dubai Almelaheyah—Dubai Maritime CityLandExisting PropertiesNot specified505,936 sqftAED 1,000/sqftAED 505,936,250
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

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.