Dubai Real Estate Transactions Reach 6 Billion in a Week

09 September 2023, Offplan Property Exchange

In the week ending September 8, 2023, the real estate and property transactions in Dubai reached a total value of over 6 billion. The transactions included the sale of 1,892 plots for 843.57 million dirhams, as well as the sale of 1,740 apartments and villas for 4.04 billion dirhams.

Among the top three transactions, a land in Al Thanayah Fourth was sold for 58.63 million dirhams, followed by another land sold for 58.25 million dirhams in Al Satwa. In third place, a land was sold for 42 million dirhams in Wadi Al Safa 3.

During this week, Al Hebiah Fifth recorded the highest number of sales transactions with 48 transactions worth 155.18 million dirhams. Madinat Al Mataar had 20 sales transactions worth 66.12 million dirhams, while Madinat Hind 4 had 14 sales transactions worth 18.68 million dirhams.

In terms of apartments and villas, the top three transfers were a villa sold for 202 million dirhams in Palm Jumeirah, a property sold for 132.03 million dirhams in Business Bay, and another property sold for 102 million dirhams in Palm Jumeirah.

The total value of mortgaged properties for the week amounted to 959.92 million dirhams, with the highest valued property being a land in Al Safouh Second, mortgaged for 200 million dirhams.

Furthermore, 79 properties were granted to first-degree relatives, amounting to 192 million dirhams. First-degree relatives are defined as an individual’s parents, siblings, children, or a fully-owned company by an individual.

This significant activity in Dubai’s real estate market demonstrates the continued strength and attractiveness of the city’s property sector. Sources: Dubai Land Department.