Dubai records AED11.6 bn in weekly real estate transactions

A total of 2,709 real estate transactions worth AED11.6 billion were conducted during the week ending 14th April 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 226 plots were sold for AED5.76 billion, 2,020 apartments and villas were sold for AED4.43 billion.

The top three transactions were an AED3.87 billion land in Mugatrah, followed by an AED630.8 million land in Al Layan 1, and another worth AED91 million in Al Barsha South Fourth.

Al Hebiah Fifth recorded the most transactions for this week with 74 sales transactions worth AED198.41 million, followed by Madinat Hind 4 with 34 sales transactions worth AED44.36 million, and Al Hebiah Fourth with 27 sales transactions worth AED251 million in third place.

The top three transfers for apartments and villas were an AED76 million unit, an apartment worth AED 58 million, and an AED 50 million unit, all located in Palm Jumeirah.

The value of mortgaged properties for the week reached AED1.31 billion. Meanwhile, 68 properties were granted between first-degree relatives worth AED144 million.

News Source: Emirates News Agency