Dubai records AED 9.7 billion in weekly real estate transactions

A total of 3,103 real estate and properties transactions valued at AED 9.7 billion in total were conducted during the week ending 11th August 2023, according to the Dubai Land Department (DLD).

The weekly DLD report noted that 235 plots were sold for AED 2.23 billion, 2,302 apartments and villas were sold for AED 5.76 billion.

The top three transactions were a land in Al Wasl sold for AED 368.74 million, followed by a land that was sold for AED 276 million in Trade Center Second, and a land sold for AED 181.21 million in Palm Deira in third place.

Madinat Hind 4 recorded the most transactions for this week by 72 sales transactions worth AED 103.41 million, followed by Al Hebiah Fifth with 58 sales transactions worth AED 232.65 million, and Jabal Ali First with 24 sales transactions worth AED 92 million in third place.

The top three transfers for apartments and villas were a villa was sold for AED 79 million in World Islands, a villa was second in the list sold for AED 72 million in World Islands, and thirdly it was an apartment sold for AED 60 million in Zaabeel First.

The sum of the amount of mortgaged properties for the week was 1.42 billion, with the highest being a land in Al Barshaa South Second, mortgaged for AED 260 million. 93 properties were granted between first-degree relatives worth AED 337 million.

News Source: Emirates News Agency