UAE initiatives in the field of sustainable development have helped to create environmentally friendly real estate. Against the background of the environmental agenda, real estate developers in the UAE are looking for ways to make their real estate more environmentally friendly, as there is a growing understanding among developers that the progressive benefits of green construction actively contribute towards combating climate change and stimulating economic growth.

Sustainable solutions from developers in the UAE include the integration of intelligent water conservation and monitoring technology in residential buildings, indoor air quality management, as well as air-to-water conversion technology that can generate clean drinking water from the humidity of the weather.

Every new construction project in the UAE should have one of the available decentralized water recycling systems, which will allow tenants to save money on water costs and optimize its use and recycle what it can.

Against this backdrop, on Monday May 23, real estate transactions worth USD 462.8M were registered in Dubai after a week of USD 1.9B in sales. Five hundred and fifty two sales transactions worth AED 1.42B (USD 386.5M) as well as 78 mortgage deals valued at AED 210.62M (USD 57.34M) were registered on the real estate market in the emirate on Monday. The sales comprised 427 villas and apartments worth AED 878.57M (USD 239.2M) and 125 land plots worth AED 540.79M (USD 147.2M).

As stated by the Dubai Land Department (DLD), 20 gift deals worth AED 120.57M (USD 32.8M) were completed at the start of the week. Mortgages included 72 villas and apartments valued at AED 181.38M (USD 49.4M) and 6 land plots worth AED 29.23M (USD 7.9M).

During the week ending May 20, 2022, a total of 2,043 real estate transactions worth AED 7.2B (USD 1.9B) were conducted, followed by high real estate figures the following Monday.

A total of 228 land plots were sold for AED 1.14B (USD 310.3M) and 1,328 apartments and villas were sold for AED 3.58B (USD 974.7M) in the emirate of Dubai last week.

Land sold for AED 128M (USD 34.8M) in Hadaeq Sheikh Mohammed Bin Rashid and land sold for AED 85M (USD 23M) in Al Merkadh are the top transactions. At the same time, the Al Habib Fifth community recorded the largest number of transactions this week, namely 117 purchases and sale transactions to the amount of AED 313.13M (USD 85.2M). Second place is occupied by the community of Al Merkadh with 22 sales transactions worth AED 221.88M (USD 60.4M), and in third place is the premium residential complex Al Yufrah 2 with 19 sales transactions worth AED 25M (USD 6.8M).

The best 3 transfers for apartments and villas included an apartment in the Burj Khalifa which sold for AED 848M (USD 230.8M), a residence in Palm Jumeirah sold for AED 784M (USD 213.4M) and an apartment in Marsa Dubai sold for AED 350M (USD 95.2M).

The amount of mortgaged real estate for the week amounted to AED 2.28B (USD 620.7M). The land in Al Muteena was mortgaged for the highest amount, which was AED 461M (USD 125.5M).

The most expensive villa sold in 2022, has a living area of 34,113 sq. ft and sold for AED 128M (USD 34.8M) in the community of Dubai Hills. Grove mansion on the ‘Street of Dreams’ has 7 bedrooms, a gym, a cinema room, an entertainment and games room, private swimming pool, a spa, as well as a rooftop terrace. Residents of the villa can enjoy gorgeous views of lakes and the golf course.

The ‘Street of Dreams’ in the community of Dubai Hills sees AED 3B (USD 817M) in sales in 2022 to date. The complex offers only 26 mansions, which are valued at more than AED 100M (USD 27.2M).