AED7.2 billion in weeklong real estate transactions in Dubai

AED7.2 billion in weeklong real estate transactions in Dubai


The Palm Jumeirah remained the most sought-after destination with nearly 30 per cent year-on-year increase in prices during the first quarter of 2022. — File photo

A total of 2,043 real estate transactions worth AED 7.2 billion were conducted during the week ending 20 May 2022, according to figures released by the Dubai Land Department.

A total of 228 plots were sold for AED1.14 billion, 1,328 apartments and villas were sold for AED3.58 billion.

The top three transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for AED 128 million, followed by a land that was sold for AED 85 million in Al Merkadh, and a land sold for AED 128 million in Hadaeq Sheikh Mohammed Bin Rashid in third place.

Al Hebiah Fifth recorded the most transactions for this week by 117 sales transactions worth AED 313.13 million, followed by Al Merkadh with 22 sales transactions worth AED 221.88 million, and Al Yufrah 2 with 19 sales transactions worth AED 25 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED 848 million in Burj Khalifa, an apartment was second in the list sold for AED 784 million in Palm Jumeirah, and thirdly it was an apartment sold for AED 350 million in Marsa Dubai.

The sum of the amount of mortgaged properties for the week was 2.28 billion, with the highest being a land in Al Muteena, mortgaged for AED 461 million.

171 properties were granted between first-degree relatives worth AED 288 million.



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