Dubai records over Dhs9.8b in real estate transactions

Dubai records over Dhs9.8b in real estate transactions

12 February 2024, Gulf Today

A total of 3,543 real estate transactions worth over Dhs9.8 billion were conducted during the week ending 9th February 2024, according to data released by the Dubai Land Department (DLD).

The DLD report showed that 197 plots were sold for Dhs1.61 billion, while 2,572 apartments and villas were purchased for Dhs5.68 billion.

The top three transactions were a land in Warsan Fourth sold for Dhs120.32 million, a land sold for Dhs78.86 million in Al Barshaa South Third, and another in Wadi Al Safa 3 sold for Dhs54 million.

Madinat Hind 4 recorded the most sales transactions for this week with 77 transactions worth Dhs199.72 million, followed by Al Hebiah Fifth with 30 transactions worth Dhs136.08 million, and Jabal Ali First with 11 transactions worth Dhs51.65 million.

The top three apartment and villa transfers included one in Island 2 for Dhs140.45 million, another in Jumeirah First worth Dhs119 million, and an apartment in Al Safouh Second worth Dhs80 million.

The total value of mortgaged properties for the week reached Dhs1.8 billion. Meanwhile, 135 properties were granted between first-degree relatives worth Dhs725 million.

Dubai real estate market recorded 530 sales transactions worth Dhs2.35 billion, in addition to 135 mortgage deals of Dhs564.27 million, and 55 gift deals amounting to Dhs180.68 million on Janurary, 31, 2024, data released by the Dubai Land Department (DLD) showed.

The sales included 494 villas and apartments worth Dhs1.15 billion, and 36 land plots worth Dhs1.2 billion, while mortgages included 114 villas and apartments worth Dhs284.27 million and 21 land plots valued at Dhs280 million, bringing the total realty transactions of to over Dhs3 billion.

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