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18 May 2024

Dubai records over AED 9.1 billion in weeklong real estate transactions


 A total of 2,926 real estate transactions worth over AED 9.1 billion were conducted during the week ending 23rd December, 2022, according to figures released by the Dubai Land Department (DLD).

The DLD report revealed that 159 plots were sold for AED 877.59 million, while 2,233 apartments and villas were purchased for AED 5.44 billion.

The top three transactions were a land in Business Bay sold for AED 100 million, followed by a land that was sold for AED 96.5 million in Al Safouh First, and a land sold for AED 100 million in Business Bay.

Al Hebiah Fifth recorded the most transactions for this week with 66 sales transactions worth AED 177.34 million, followed by Al Yufrah 2 with 21 transactions worth AED 28.72 million, and Jabal Ali First with 12 transactions worth AED 38 million.

The top three transfers for apartments and villas were an AED 315 million apartment in Jumeirah First, an AED 183 million apartment in Business Bay, and an AED 85 million apartment in Palm Jumeirah.

The value of mortgaged properties for the week landed at AED 2.65 billion, with the highest being a land in Palm Jumeirah, mortgaged for AED 794 million. Meanwhile, 79 properties were granted between first-degree relatives worth AED 172 million.