In the opening trading session on Wednesday, Dubai achieved a landmark moment in its real estate sector by recording a record-breaking mortgage deal worth Dh11.1 billion. The transaction involves two adjacent land plots located in the prestigious Dubai Waterfront area, collectively spanning an impressive 24.3 million square feet.
Data from the Dubai REST platform revealed that the average mortgage rate for these plots worked out to approximately Dh456.6 per square foot. This exceptional valuation underscores the strong investor confidence in Dubai’s prime development land.
Market analysts interpret this transaction as a clear indication of the continued momentum in Dubai’s property sector. The robust demand for high-value land and waterfront locations is attributed to several key factors:
This landmark deal follows other significant real estate transactions, such as the recent record-breaking sale of the Sky Palace in Ras Al Khaimah, further highlighting the Dubai and UAE property market’s resilience and attractiveness to global investors.
