Dubai real estate market deals reached AED 1.1B (USD 299M) on Thursday, September 22. These figures confirm the record, which for several weeks in a row exceeds the mark of AED 1B (USD 272M).

According to the Dubai’s Land Department (DLD) data, property transactions in the emirate comprised 371 sales deals of AED 825.36M (USD 225M), 81 mortgage deals amounting to AED 231.57M (USD 63M) as well as 18 gift deals worth AED 48.1M (USD 13M).

The sales included 334 villas and apartments totalling AED 626.55M (USD 170.5M) and 37 land plots amounting to AED 198.81M (USD 54M). Mortgages comprised 65 villas and apartments valued at AED 143.97M (USD 39M) and 16 land plots at AED 87.6M (USD 23.8M).

On Monday, September 19, the emirate’s real estate market recorded AED 1.6B (USD 436M). The property deals also exceeded AED 1.7B (USD 463M), AED 1.77B (USD 482M) and AED 1.2B (USD 327M) between September 12, 13 and 14, respectively.

Another noteworthy piece of news over the past week was the huge rebranding of the real estate market giant Nakheel Properties, as the developer unveiled a new company logo. Last month, the developer also relaunched one of its largest projects, Palm Deira, renaming it Deira Islands and then Dubai Islands. Each island will offer cultural centers, beaches and beach clubs, which will be located in one interconnected place with easy access to the city and the airport. According to a statement from Nakheel, over 80 resorts and hotels will be located on the islands. According to Nakheel, the development of the Dubai Islands will further strengthen the emirate’s position as a global destination for residents, visitors and investors.

The developer is expected to make some more important announcements in the near future about the status of its other projects, which were previously frozen, due to the financial crisis of 2008.