By Mishal Al Abbas, Emirates 24|7
Real estate transactions in Dubai at the start of the week amounted to AED4 billion, resulting from 1,147 deals, distributed as follows: AED2.4 billion in sales through 904 deals, AED1.3 billion in mortgages through 223 deals, and AED90 million in gifts through 20 deals.
Data from the Dubai Land Department showed that off-plan sales accounted for the largest share at AED1.4 billion across 686 transactions, while ready sales amounted to AED1 billion across 218 transactions.
The market witnessed several notable deals on Monday, most notably the mortgaging of a residential plot of land in the Business Bay area worth AED500 million, and another industrial plot of land in the Al Khail Gate area worth AED305 million.
Palm Jumeirah recorded a sale of an apartment under construction within the 'Alba Residences by Omniyat' project for AED 64 million, in addition to the sale of an off-plan apartment in the Dubai Water Canal area within the 'Ville Square' project for AED30 million.