Dubai records over $2bln in weekly real estate transactions

Dubai records over $2bln in weekly real estate transactions

27 November 2023, ZAWYA

A total of1,852 real estate transactions valued at more than AED 9 billion were conducted during the week ending 24th November 2023, according to the Dubai Land Department (DLD).

The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and villas were sold for AED 3.38 billion.

The top three transactions were a land in Business Bay sold for AED 140 million, followed by a land that was sold for AED 87.5 million in Wadi Al Safa 5, and a land sold for AED 55 million in Warsan Fourth in third place.

Wadi Al Safa 2 recorded the most sales transactions for this week by 130 transactions worth AED 69.37 million, followed by Saih Shuaib 1 with 43 transactions worth AED 77.09 million, and Palm Jabal Ali with 40 transactions worth AED 980.48 million.

The top three apartment and villa transfers included one worth AED 40.5 million in Palm Jumeirah, another worth AED 34.5 million in Palm Jumeirah, and an apartment worth AED 33 million in Al Merkadh.

The total value of mortgaged properties for the week reached AED2.97 billion. Meanwhile, 139 properties were granted between first-degree relatives worth AED507 million.



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