Dubai real estate: $3bn of property deals last week as sector thrives

Dubai real estate: $3bn of property deals last week as sector thrives

27 May 2023, Arabian Business

The Dubai real estate sector saw a total of 3,321 transactions worth AED11.1bn ($3bn) in the week ending May 26, according to the city land department.

The Dubai Land Department said 220 plots were sold for AED2.54bn and 2,398 apartments and villas were sold for AED5.85bn.

The top three land transactions were a plot in Madinat Al Mataar sold for AED659.54m, followed by a land sold for AED169.39m in Madinat Dubai Almelaheyah, and land sold for AED83m in Al Barsha South Fourth in third place.

Dubai real estate this week
Wadi Al Safa 3 recorded the most transactions for this week, with 61 sales transactions worth AED728.44m, followed by Al Hebiah Fifth with 41 sales transactions worth AED106.84m, and Jebel Ali First with 18 sales transactions worth AED70m in third place.

The top three transfers for apartments and villas were a property sold for AED75m in Al Safouh First, a villa was sold for AED69m in World Islands, and thirdly a villa sold for AED61m in World Islands.

The sum of the amount of mortgaged properties for the week was AED1.8bn, with the highest being a land in Al Thanayah Fourth, mortgaged for AED143m.

154 properties were granted between first-degree relatives worth AED933m.



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