Dubai records $1.5bln in weekly real estate transactions

Dubai records $1.5bln in weekly real estate transactions

08 January 2024, WAM (Emirates News Agency)

A total of 1,721 real estate and properties transactions valued at AED5.8 billion were conducted during the week ending 5th January, according to the Dubai Land Department (DLD).

The DLD weekly report said that 114 plots were sold for AED 1.36 billion, 1,183 apartments and villas were sold for AED 3.13 billion,

The top three transactions were a land in Al Thanyah Fifth sold for AED 268.33 million, followed by a land that was sold for AED 113.9 million in Warsan Fourth, and a land sold for AED 65.26 million in Palm Jabal Ali in third place.

Madinat Hind 4 recorded the most transactions for this week with 18 sales transactions worth AED 20.57 million, followed by Palm Jabal Ali with 11 sales transactions worth AED 311.64 million, and Saih Shuaib 1 with 8 sales transactions worth AED 15.95 million in third place.

The top three transfers for apartments and villas were as follows: AED 110.01 million in Al Thanyah First, AED 62 million in Palm Jumeirah, and AED 56.4 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was AED779.4 million, with the highest being a land in Al Hamriya, mortgaged for AED 125 million.

98 properties were granted between first-degree relatives worth AED 617 million.

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