Overview:
Dubai's property market sustained momentum with weekly turnover reaching 12.5 billion dirhams. Sales accounted for 8 billion dirhams across 2,433 transactions, while mortgage registrations totaled 2.9 billion dirhams. Emirati equities advanced during the week, with Abu Dhabi and Dubai indices posting respective gains of 2.93% and 2.86%, outperforming regional peers. Moody's forecasts UAE real gross domestic product growth of 8.2% in 2027, positioning the country ahead of major emerging markets.
Details:
Palm Jebel Ali and Dubai Islands recorded the strongest sales performance, attracting 652 million and 645 million dirhams respectively. Mortgage activity concentrated in Tilal Al Marjan and Wadi Al Safa, registering 260 million and 212 million dirhams. Gift transfers, valued at 1.5 billion dirhams across 416 transactions, peaked in Al Khawaneej areas.
Two luxury villas in Palm Jumeirah were mortgaged for 97.5 million dirhams, each comprising four bedrooms and spanning approximately 14,275 square feet at an average rate of 13,700 dirhams per square foot. The UAE hotel development pipeline encompasses 111 projects with 26,800 rooms under construction, representing 14.2% of Middle Eastern capacity. Gold prices in Egypt edged higher to 5,970 Egyptian pounds per gram of 21-carat on November 13, recovering from October lows as international bullion markets stabilized amid ongoing monetary policy uncertainty.
Outlook:
Investors are monitoring whether Dubai's transaction velocity sustains as global interest rates stabilize and offshore capital evaluates emerging market exposure. International Energy Agency projections show global oil supply will exceed demand in the fourth quarter, with Gulf shipments reaching 18.4 million barrels daily despite continued maritime disruptions.