WEEKLY REPORT

Dubai Real Estate Market

Residential
Week 15 – April 2023
 DUBAI REAL ESTATE MARKET 01
RESIDENTIAL
W E E K 1 5 - A P R 2 0 2 3 ( 1 0 th – 1 6 th A P R I L 2 0 2 3 )

Residential volume across Dubai reduced by 3% compared to last week, a consecutive

decline for the third week. The total number of transactions recorded this week (10 – 16th
April 2023) were 1,482 as against 1,520 transactions in the previous week.

In terms of Value, the overall residential value remained almost similar to the value record-
ed in the previous week. Overall AED 3.26 billions worth of transactions were recorded
against AED 3.27 billion in the previous week.

The maximum upside was witnessed in villa transactions where both volume and value
registered an impressive growth from the previous week.

Total sales
transaction volumes

Total Transaction Median Price

Volume / Units AED / Sqf

1,482 Apartment - 1,380

Total Value Median Size

AED Billions Sqf

3.26 Apartment - 840

w w w. re li ants ur ve yo rs. co m S o u rce: R el iant S u r veyo r s R es earc h / R EI D I N

 DUBAI REAL ESTATE MARKET 02
RESIDENTIAL
W E E K 1 5 - A P R 2 0 2 3 ( 1 0 th – 1 6 th A P R I L 2 0 2 3 )

Off Plan Transactions Volume

01 789 Units

Off Plan Transactions Value

AED 1.56 Billions 02
Ready Transactions Volume
03 693 Units

Ready Transactions Value

AED 1.70 Billions 04
Apartment Transactions Volume
05 1,358 Units

Apartment Transactions Value

AED 2.47 Billions 06
Villa Transactions Volume
07 124 Units

Villa Transactions Value

AED 0.79 Billions 08

w w w. re li ants ur ve yo rs. co m S o u rce: R el iant S u r veyo r s R es earc h / R EI D I N

 DUBAI REAL ESTATE MARKET 03
RESIDENTIAL OFF PLAN AND READY TRANSACTION
W E E K 1 5 - A P R 2 0 2 3 ( 1 0 th – 1 6 th A P R I L 2 0 2 3 )

Off-Plan sales activity during the week remained comparatively low whereas ready transac-
tion volume witnessed a hike. A total of 789 Off-plan and 693 ready transactions were regis-
tered during the week. Ready transactions increased by 13% over the course of the week,
the volume of Off-Plan transactions reduced by 13%.
Value-wise, Off-plan transactions registered a substantial decrease of 9%, while Ready Sales
transactions registered an increase of 9% over the previous week.

Volume of Residential Sales

No. of Transactions

1400

1200
1,066 995 999
1000 942
877
909
774
773 789
800 630 693
611
600

OFF PLAN
400

READY
200

Week 10 Week 11 Week 12 Week 13 Week 14 Week 15

Mar 23 Mar 23 Mar 23 Mar 23 Apr 23 Apr 23

Value of Residential Sales

Source: Reliant Surveyors Research/ REIDIN

4.0

3.5
AED Billions

3.0

2.5
2.10
1.92
2.0 1.78 1.95 1.90 1.71 1.70
1.56 1.56 1.56
1.56
OFF PLAN

1.5
1.43
READY

1.0

0.5

0.0
Week 10 Week 11 Week 12 Week 13 Week 14 Week 15
Mar 23 Mar 23 Mar 23 Mar 23 Apr 23 Apr 23

w w w. re li ants ur ve yo rs. co m
 DUBAI REAL ESTATE MARKET 04
RESIDENTIAL APARTMENT & VILLA TRANSACTION
W E E K 1 5 - A P R 2 0 2 3 ( 1 0 th – 1 6 th A P R I L 2 0 2 3 )

The total apartment transactions volume reduced by 7% in Week 15 of 2023 compared to

the previous week, whereas Villa transactions recorded a significant hike of 91% over the
last week. Nearly 1,358 apartments and 124 Villa transactions took place against 1,455 apart-
ments and 65 villa units in the previous week.
In Value terms, the total apartment’s transaction value was reduced by 5%, and the value of
villa transactions recorded an increase of 18% against the previous week.

Volume of Residential Sales

No. of Transactions

2100 1,876

1800 1,664
1,531 1,580
1,358
1500 1,455

1200

APARTMENT
900

600

VILLA
124
300 184 67 105
65
49

Week 10 Week 11 Week 12 Week 13 Week 14 Week 15

Mar 23 Mar 23 Mar 23 Mar 23 Apr 23 Apr 23

Value of Residential Sales Source: Reliant Surveyors Research/ REIDIN

4.0

3.5
3.30 3.00 2.97
AED Billions

3.0
2.58 2.60

2.5 2.47

2.0
APARTMENT

1.5
0.86
1.0 0.76 0.79
VILLA

0.67

0.5 0.36
0.36

0.0
Week 10 Week 11 Week 12 Week 13 Week 14 Week 15
Mar 23 Mar 23 Mar 23 Mar 23 Apr 23 Apr 23

w w w. re li ants ur ve yo rs. co m
 DUBAI REAL ESTATE MARKET 05
RESIDENTIAL KEY TRANSACTION
W E E K 1 5 - A P R 2 0 2 3 ( 1 0 th – 1 6 th A P R I L 2 0 2 3 )

Key Transactions - Off Plan

Value
Building Name Area Type Units (AED Billion)

Elvira 2 Mohammed Bin Rashid Apartment 87 0.19

City (MBR City)

Orla By Omniyat Palm Jumeirah Apartment 4 0.18

Address The Bay Dubai Harbour Apartment 23 0.09

Ellington Beach Palm Jumeirah Apartment 8 0.06

House

THE RESIDENCE Downtown Dubai Apartment 2 0.04

Burj Khalifa

Key Transactions - Ready

Value
Building Name Area Type Units (AED Billion)

Alaya Tilal Al Ghaf Villa 20 0.20

Palm Jumeirah Palm Jumeirah Villa 3 0.10

Arabian Ranches Arabian Ranches Villa 7 0.05

Villas

Signature Villas Palm Jumeirah Villa 1 0.05

One JBR (1 JBR) Dubai Marina Apartment 2 0.03

w w w. re li ants ur ve yo rs. co m S o u rce: R el iant S u r veyo r s R es earc h / R EI D I N

 ABOUT US

With a history that goes back to 4 decades, Reliant is known for delivering excellence
and holds 2nd number license from insurance authority. We have over 2,000+ satis-
fied clients and successfully completed over 5,500 assignments across commercial
and residential sectors. Reliant is living up to it name and has become synonymous
to reliability & trustworthiness in the asset valuation industry.
We are a company driven by passion and hold dear our values i.e. integrity, honesty,
transparency, quality, and professionalism. With a client-centric approach, we remain
committed to deliver excellence and perfection in everything we do. Our sheer com-
mitment, dedication, passion and devotion towards work have enabled us to grow
exponentially in the Middle East and India – with plans to set foot in the UK market
very soon.
Reliant as a company takes pride in its heritage, people and culture and oers its
clients a comprehensive range of customized reports leveraging its dedicated,
skilled, and multi-disciplinary team, which includes RERA approved valuers, RICS
professionals, Chartered Engineers, and CEIV.

OUR PEOPLE

Abhinav Sharma Amrita Chandhok Divyansh Gupta- MRICS Simmi Arora

RICS Registered RICS Registered Valuer, Director I Strategic Senior Research
Valuer, Director Director Valuations Advisory & Valuation Manager
Head Office - Dubai

806, Capital Golden Tower,

Business Bay Dubai, UAE.
info@reliantsurveyors.com
+971 4 267 5572

Abu Dhabi Office

Office C102C , 1st Floor, Level 1,

Al Bateen Tower C6 Bainunah
ADIB Building, Street 34, UAE.
mail@reliantsurveyors.com
+971 2 207 6680

India Office
3rd Floor, Plot No. 742 Udyog Vihar,
Phase 5, Gurugram, India.
adminindia@reliantsurveyors.com
Disclaimer:
This report is for general informative purposes only. It may not
be published, reproduced or quoted in part or in whole, nor may
it be used as a basis for any contract, prospectus, agreement
or other document without prior consent. Whilst every effort
has been made to ensure its accuracy, Reliant Surveyors
accepts no liability whatsoever for any direct or consequential
loss arising from its use. The content is strictly copyright and

+91-7494999369 reproduction of the whole or part of it in any form is prohibited

without written permission from Reliant’s research team.
©Reliant Surveyors.

www.reliantsurveyors.com