Dubai records AED10 billion in weeklong real estate transactions

A total of 3,903 real estate transactions worth AED 10 billion were conducted during the week ending 17th March, 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report revealed that 208 plots were sold for AED 1.12 billion, while 2,906 apartment and villa sales totalled AED 6.25 billion.

The top three transactions were three lands in Al Jadaf sold for AED 38.5 million, AED 38.5 million, and AED 37 million respectively.

Al Hebiah Fifth recorded the most transactions for this week with 88 sales transactions worth AED 232.71 million, followed by Jabal Ali First with 22 sales transactions worth AED 72.92 million, and Madinat Hind 4 with 20 sales transactions worth AED 25 million.

The top three apartment and villa transfers were a villa sold for AED 150 million in Palm Jumeirah, an apartment worth AED 80 million in Island 2, and another sold for AED 65 million in Palm Jumeirah.

The value of mortgaged properties for the week stood at AED 2.17 billion, while 341 properties were granted between first-degree relatives worth AED 548 million.

News Source: Emirates News Agency