Dubai's weekly real estate transactions reach AED 9 billion

Dubai's weekly real estate transactions reach AED 9 billion

During the week ending June 9, 2023, a total of 3,397 real estate and property transactions were conducted in Dubai, with a combined value of AED 9 billion, according to data released by the Dubai Land Department (DLD).

Out of these transactions, 204 plots were sold for AED 1.52 billion, while 2,562 apartments and villas were sold for AED 5.69 billion.

The top three transactions included the sale of a land in Wadi Al Safa 3 for AED 90.04 million, followed by a land in Hadaeq Sheikh Mohammed Bin Rashid sold for AED 81.5 million, and a land in Wadi Al Safa 3 sold for AED 78.18 million.

Among the areas with the highest number of transactions, Al Hebiah Fifth recorded 31 sales transactions worth AED 96.17 million, followed by Wadi Al Safa 3 with 28 sales transactions worth AED 467.65 million, and Madinat Hind 4 with 25 sales transactions worth AED 32 million.

In terms of apartment and villa transfers, the top three transactions included a property sold for AED 80 million in Al Thanayah Fourth, another property sold for AED 55 million in Palm Jumeirah, and an apartment sold for AED 52 million in Zaabeel First.

The total value of mortgaged properties for the week amounted to AED 1.52 billion, with the highest value recorded for a land in Nadd Hessa, which was mortgaged for AED 122 million.

Additionally, 134 properties were granted to first-degree relatives, with a total value of AED 340 million.

News Source: Emirates News Agency

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