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11.06.2023

Dubai real estate sector sees $4.3bn of property deals in HUGE week for transactions

A massive week for the Dubai real estate market saw transactions worth $4.3bn

The Dubai real estate market recorded 4,048 transactions worth more than AED15.624bn ($4.3bn) this week, according to figures released by the Dubai Land Department (DLD).

Land Department data showed 278 plots were sold for AED1.74bn ($474m), while 2,965 apartments and villas were purchased for AED7.34bn ($2bn).

Even by the city’s ever-growing standards it was a huge week.

 

Dubai real estate market data

 

The top three land transactions were a plot in Wadi Al Safa 3 sold for AED89.23m ($24m), land sold for AED75m ($20.4m) in Madinat Dubai Almelaheyah, and another in Palm Jumeirah sold for AED70m ($19m).

Al Hebiah Fifth recorded the most sales transactions this week with 82 transactions worth AED212.4m ($58m), followed by Madinat Hind 4 with 31 sales transactions worth AED41.18m ($11.2m), and Jebel Ali First with 27 sales transactions worth AED100m ($27.2m).

The top three apartment and villa transfers included one in Al Quoz First for AED252m ($68.6m), another in Al Nahda First worth AED100m ($27.2m), and an apartment in Palm Jumeirah worth AED100m ($27.2m).

The total value of mortgaged properties for the week reached AED 5.61bn ($1.5bn).

Meanwhile, 139 properties were granted between first-degree relatives worth AED934m ($254.3m).

 

 

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