Dubai real estate: $2.8bn of property deals this week

06 May 2023, Arabian Business

The Dubai Real Estate sector saw 3,050 real estate transactions worth AED10.4bn ($2.8bn) this week, according to the city Land Department.

The Land Department data showed 189 plots were sold for AED1.19bn and 2,239 apartments and villas were sold for AED5.11bn.

The top three land transactions were a plot in Al Thanayah Fourth sold for AED52m, followed by land sold for AED40.62m in Saih Shuaib 2, and a land sold for AED35.36m in Palm Deira in third place.

Dubai real estate this week
Al Hebiah Fifth recorded the most transactions for this week by 63 sales transactions worth AED188.2m, followed by Madinat Hind 4 with 22 sales transactions worth AED29.01m, and Jebel Ali First with 16 sales transactions worth AED58m in third place.

The top three transfers for apartments and villas were a home sold for AED90m in Al Merkadh, an apartment sold for AED78m in Jumeirah Second, and an apartment sold for AED67m in the Burj Khalifa.

Mortgaged properties for the week came to AED3.69bn, with the highest being a land in Al Barsha South Third, mortgaged for AED653m.

110 properties were granted between first-degree relatives worth AED497m.