Dubai records weekly real estate transactions worth AED6.3 bn

About 2,145 real estate and property transactions worth AED6.3 billion were conducted in Dubai during the week ending 22nd April 2022, according to the Land Department of the Government of Dubai.

Two hundred and twenty-five plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 billion, said a Land Department statement on Friday.

The top transactions were a land sale in Hadaeq Sheikh Mohammed Bin Rashid for AED96 million, and another land that was sold for AED52.5 million in Palm Jumeirah.

Al Hebiah Fifth recorded the most transactions for this week with 114 sales worth AED254.57 million, followed by Jabal Ali First with 33 sales transactions worth AED143.55 million, and Wadi Al Safa 5 with 11 sales transactions worth AED49 million.

The top three apartment sales were an apartment sold for AED463 million in Marsa Dubai, another one sold for AED354 million in Burj Khalifa, and third one sold for AED284 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was AED1.74 billion, with the highest being a land in Nad Al Shiba Third, mortgaged for AED400 million.

News Source: Emirates News Agency