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Monthly report

Dubai property market — May 2024

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

Sales17,281Registered in May 2024up49.2% vs a year earlier
Total valueAED 45.34BRegistered in May 2024Across 114 communities
Price per sqftAED 1,558/sqftMedian across May 2024up18.3% vs a year earlier
Sale priceAED 1.53MMedian across May 202462% sold off-plan

In a sentence

The Land Department registered 17,281 property sales in May 2024, worth AED 45.34B in total, across 114 communities. That is 49% more than the same month a year earlier.

The median sale was AED 1,532,274 at AED 1,558/sqft, 18.3% above the same month last year. 62% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 1,601 registered sales, while Business Bay took the most money at AED 3.41B.

Against the previous month, Al Yufrah 1 rose 306% to 447 sales, while Zaabeel First fell 93% to 79.

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 2024, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth1,601+1.3%AED 1.75BAED 950KAED 1,270/sqft73%
Al Merkadh1,326+224.2%AED 1.93BAED 763KAED 1,847/sqft85%
Ras Al Khor Industrial First1,164+286.7%AED 2.52BAED 1.78MAED 2,165/sqft100%
Business Bay1,132+49.9%AED 3.41BAED 1.64MAED 2,274/sqft57%
Hadaeq Sheikh Mohammed Bin Rashid1,060+140.4%AED 2.65BAED 1.96MAED 2,260/sqft86%
Wadi Al Safa 5836+148.1%AED 2.53BAED 2.77MAED 1,200/sqft61%
Marsa Dubai799+60.1%AED 3.24BAED 2.80MAED 2,322/sqft46%
Al Barshaa South Third604+96.1%AED 632.23MAED 938KAED 1,288/sqft69%
Jabal Ali First604+55.3%AED 997.34MAED 1.10MAED 1,173/sqft55%
Al Hebiah Fourth525+23.8%AED 1.36BAED 985KAED 1,356/sqft64%
Al Thanyah Fifth504+44.0%AED 1.24BAED 1.55MAED 1,465/sqft25%
Al Hebiah Fifth450+15.7%AED 867.97MAED 1.34MAED 1,626/sqft63%
Al Yufrah 1447+306.4%AED 1.31BAED 2.19MAED 1,384/sqft89%
Madinat Al Mataar389+87.9%AED 1.00BAED 1.83MAED 1,140/sqft54%
Burj Khalifa375+28.9%AED 1.71BAED 2.91MAED 2,573/sqft26%

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
Business BayAED 3.41B1,132
Marsa DubaiAED 3.24B799
Hadaeq Sheikh Mohammed Bin RashidAED 2.65B1,060
Wadi Al Safa 5AED 2.53B836
Ras Al Khor Industrial FirstAED 2.52B1,164
Al MerkadhAED 1.93B1,326
Al Barsha South FourthAED 1.75B1,601
Burj KhalifaAED 1.71B375
Palm DeiraAED 1.64B166
Palm JumeirahAED 1.55B183

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 Yufrah 1447+306.4%
Ras Al Khor Industrial First1,164+286.7%
Al Merkadh1,326+224.2%
Al Wasl284+167.9%
Wadi Al Safa 5836+148.1%
Hadaeq Sheikh Mohammed Bin Rashid1,060+140.4%
Madinat Dubai Almelaheyah347+107.8%
Warsan Fourth101+102.0%
Madinat Hind 4304+100.0%
Al Barshaa South Third604+96.1%

The largest sales of May 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
14 May 2024Mushrif—BuildingExisting PropertiesNot specified5,248,492 sqftAED 152/sqftAED 800,000,000
14 May 2024Business Bay—BuildingExisting PropertiesNot specified20,612 sqftAED 24,258/sqftAED 500,000,000
23 May 2024Business BayBayz 102 By DanubeLandExisting PropertiesNot specified36,021 sqftAED 9,994/sqftAED 360,000,000
8 May 2024Burj KhalifaBinghatti SkybladeDownTown DubaiLandExisting PropertiesNot specified55,165 sqftAED 3,625/sqftAED 200,000,000
29 May 2024Al Merkadh—LandExisting PropertiesNot specified34,822 sqftAED 4,969/sqftAED 173,015,293
20 May 2024Al JadafKeturah ResortDubai Health Care City Phase 2LandExisting PropertiesNot specified22,488 sqftAED 7,365/sqftAED 165,620,000
29 May 2024Island 2—Jumeira BayLandExisting PropertiesNot specified23,313 sqftAED 5,619/sqftAED 131,000,000
28 May 2024Palm Jumeirah—Palm JumeirahLandExisting PropertiesNot specified15,905 sqftAED 7,953/sqftAED 126,500,000
13 May 2024Palm JumeirahEOMEPalm JumeirahVillaOff-Plan Properties6 B/R26,786 sqftAED 3,920/sqftAED 105,000,000
3 May 2024Al MerkadhMOHAMMED BIN RASHID AL MAKTOUM CITY- DISTRICT ONE, PHASE 1VillaExisting PropertiesNot specified32,131 sqftAED 2,988/sqftAED 96,000,000

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.