Dubai, the Gulf region’s commercial hub, recorded a busy period in 2024 with the value of real estate deals surging far above $100 billion.

Official data published by Alkhaleej newspaper on Friday showed sales of houses accounted for more than half the total real estate turnover in the first 10 months.

The figures by Dubai’s Land Department showed overall real estate transactions totalled around 432 billion UAE dirhams ($118 billion) in the first 10 months.

Deals involving the sale of apartments, villas and hotel apartments stood at nearly AED277 billion ($75.5 billion), according to the report.

Apartment sales accounted for the bulk of those deals, standing at about AED222 billion ($60.5 billion) while villa sales stood at AED48.3 billion ($13.1 billion) and those of hotel apartments at AED6.7 billion ($1.8 billion), the report showed.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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