Major land deal Worth AED 240.34 million Opens Dubai Real Estate market as sales surpass half a billion Dirhams within hours

Dubai’s real estate market opened trading on Tuesday with a major transaction involving the sale of a plot of land in the Downtown Jebel Ali area for AED 240.34 million.

According to data from Dubai REST, the total area of the sold plot reached 185,442 square feet, at an average price of AED 1,296 per square foot.

Overall, Dubai recorded AED 566 million in property sales during the early hours of Tuesday through 126 transactions, in addition to mortgages worth AED 17 million generated by 10 deals, and gifts valued at AED 6 million resulting from two transactions.