Dubai's weekly real estate transactions reach AED12.5 billion

Dubai's weekly real estate transactions reach AED12.5 billion

According to data from the Dubai Land Department, a total of 3,625 real estate transactions were conducted during the week ending on June 16, 2023, amounting to AED12.5 billion. Out of these transactions, 189 plots were sold for AED2.28 billion, while 2,753 apartments and villas were sold for AED7.01 billion.

The top three transactions recorded during this period include the sale of a land in Palm Deira for AED 167.88 million, followed by a land in Business Bay sold for AED 136 million, and a land in Al Thanyah First sold for AED 125 million.

In terms of the highest number of transactions, Al Hebiah Fifth recorded 34 sales transactions worth AED 88.58 million, followed by Wadi Al Safa 3 with 24 sales transactions worth AED 548.44 million, and Madinat Hind 4 with 24 sales transactions worth AED 28 million.

Regarding apartments and villas, the top three transfers involved an apartment sold for AED 112 million in Island 2, followed by an apartment in Palm Jumeirah sold for AED 86 million, and an apartment in Marsa Dubai sold for AED 80 million.

The total value of mortgaged properties during the week reached AED 2.88 billion, with the highest mortgage recorded for a land in Al Wasl, amounting to AED 761 million.

Additionally, 114 properties were granted to first-degree relatives, with a total value of AED 415 million.

News Source: Emirates News Agency

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