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Monthly report

Dubai property market — February 2024

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside February 2024. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales11,918Registered in February 2024up28.2% vs a year earlier
Total valueAED 36.27BRegistered in February 2024Across 118 communities
Price per sqftAED 1,500/sqftMedian across February 2024up21.2% vs a year earlier
Sale priceAED 1.49MMedian across February 202454% sold off-plan

In a sentence

The Land Department registered 11,918 property sales in February 2024, worth AED 36.27B in total, across 118 communities. That is 28% more than the same month a year earlier.

The median sale was AED 1,490,032 at AED 1,500/sqft, 21.2% above the same month last year. 54% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 1,272 registered sales, while Dubai Investment Park Second took the most money at AED 4.28B.

Against the previous month, Al Khairan First rose 107% to 371 sales, while Um Suqaim Third fell 56% to 72.

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 February 2024, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth1,272-7.4%AED 1.60BAED 870KAED 1,246/sqft67%
Madinat Dubai Almelaheyah1,094+54.5%AED 2.15BAED 1.66MAED 2,516/sqft100%
Business Bay873-19.1%AED 1.92BAED 1.52MAED 2,138/sqft47%
Al Merkadh527+13.3%AED 1.32BAED 1.28MAED 1,825/sqft56%
Marsa Dubai512+8.0%AED 1.83BAED 2.54MAED 2,729/sqft34%
Jabal Ali First501+56.6%AED 992.53MAED 1.26MAED 1,035/sqft56%
Al Thanyah Fifth434-3.6%AED 962.08MAED 1.61MAED 1,564/sqft37%
Hadaeq Sheikh Mohammed Bin Rashid374-37.9%AED 1.50BAED 1.70MAED 2,139/sqft39%
Al Khairan First371+107.3%AED 950.16MAED 2.70MAED 2,236/sqft69%
Burj Khalifa366-9.0%AED 1.36BAED 2.60MAED 2,665/sqft28%
Al Yelayiss 2344+59.3%AED 437.93MAED 1.16MAED 1,167/sqft76%
Al Barshaa South Third331-6.8%AED 395.06MAED 770KAED 1,295/sqft70%
Madinat Hind 4301+10.7%AED 688.01MAED 2.86MAED 1,047/sqft0%
Wadi Al Safa 5287+0.7%AED 555.09MAED 1.08MAED 941/sqft33%
Al Hebiah Fourth283+61.7%AED 743.18MAED 778KAED 1,093/sqft38%

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
Dubai Investment Park SecondAED 4.28B12
Madinat Dubai AlmelaheyahAED 2.15B1,094
Business BayAED 1.92B873
Marsa DubaiAED 1.83B512
Al Barsha South FourthAED 1.60B1,272
Hadaeq Sheikh Mohammed Bin RashidAED 1.50B374
Burj KhalifaAED 1.36B366
Al MerkadhAED 1.32B527
Palm JumeirahAED 1.31B137
Jabal Ali FirstAED 992.53M501

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
Al Khairan First371+107.3%
Wadi Al Safa 2213+83.6%
Al Hebiah Fourth283+61.7%
Al Yelayiss 2344+59.3%
Jabal Ali First501+56.6%
Um Suqaim Third72-56.4%
Palm Deira51-55.3%
Wadi Al Safa 3282+54.9%
Madinat Dubai Almelaheyah1,094+54.5%
Me'Aisem First188+52.8%

The largest sales of February 2024

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
16 Feb 2024Dubai Investment Park Second—LandExisting PropertiesNot specified59,655,910 sqftAED 60/sqftAED 3,579,358,035
19 Feb 2024Dubai Investment Park Second—LandExisting PropertiesNot specified10,632,255 sqftAED 65/sqftAED 691,000,000
29 Feb 2024Island 2—Jumeira BayLandExisting PropertiesNot specified16,864 sqftAED 9,487/sqftAED 160,000,000
5 Feb 2024Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,657 sqftAED 12,049/sqftAED 140,450,000
15 Feb 2024Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,655 sqftAED 11,785/sqftAED 137,350,000
13 Feb 2024Business BayVELORBusiness BayLandExisting PropertiesNot specified25,760 sqftAED 4,697/sqftAED 121,000,000
26 Feb 2024Hadaeq Sheikh Mohammed Bin RashidDubai Hills - Hills View CommunityDUBAI HILLS - HILLS VIEWLandExisting PropertiesNot specified37,867 sqftAED 3,169/sqftAED 120,000,000
8 Feb 2024Jumeirah First—VillaExisting PropertiesNot specified170,134 sqftAED 699/sqftAED 119,000,000
21 Feb 2024Hadaeq Sheikh Mohammed Bin Rashid—DUBAI HILLS - HILLS VIEWLandExisting PropertiesNot specified29,095 sqftAED 3,918/sqftAED 114,000,000
1 Feb 2024Madinat Dubai AlmelaheyahLIV MARITIMEDubai Maritime CityLandExisting PropertiesNot specified30,011 sqftAED 3,565/sqftAED 107,000,000

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.