23 May 2023, Arabian Business
The Dubai real estate market recorded AED3.5bn ($955m) of property transactions on Tuesday, according to Land Department data.
The sector saw 612 sales transactions worth AED2.51bn, in addition to 126 mortgage deals of AED613.53m, and 20 gift deals amounting to AED368.66m.
The sales included 552 villas and apartments worth AED1.38bn, and 60 land plots worth AED1.13bn.
Dubai real estate performance
The mortgages included 90 villas and apartments worth AED261.07m and 36 land plots valued at AED352.47m.
Earlier in the day it was reported Dubai witnessed its fastest and biggest real estate deal with the sale of an AED50m penthouse in just three days.
The property is located in the FIVE Luxe Sensoria Tower. The buyer was a first-time investor from the Netherlands, seeking to expand his business to the UAE.
The transaction was made by Penthouse.ae, the luxury division of Metropolitan Premium Properties. The penthouse features five bedrooms and spans over 7,900 square feet, each resident will have their own private entrance and coastal views.