Dubai records AED 5.5 billion in weeklong real estate and property transactions

The real estate and properties transactions valued at AED 5.5 billion in total during the week ending 15 July 2022. The sum of transactions was 1,614.

186 plots were sold for AED 594.72 million, 1,004 apartments and villas were sold for AED 2.43 billion, data released by Dubai's Land Department (DLD) showed.

The DLD weekly report said the top three transactions were a land in Ras Al Khor Industrial First sold for AED 32.91 million, followed by a land that was sold for AED 19.41 million in Al Merkadh, and a land sold for AED 32.91 million in Ras Al Khor Industrial First in third place.

Al Hebiah Fifth recorded the most transactions for this week by 105 sales transactions worth AED 262.43 million, followed by Jabal Ali First with 35 sales transactions worth AED 101.75 million, and Al Yufrah 2 with 12 sales transactions worth AED 15 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED 317 million in Burj Khalifa, an apartment was second in the list sold for AED 240 million in Al Wasl, and thirdly it was an apartment sold for AED 191 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was 2.06 billion, with the highest being a building in Burj Khalifa, mortgaged for AED 550 million.

80 properties were granted between first-degree relatives worth AED 479 million.

News Source: Emirates News Agency