Dubai’s property investment deals rise on Tuesday; record $491mn transactions
December 21, 2022, Arabian Business
This was a near 50 percent jump from the AED1.3 billion deals registered on Monday
roperty investment deals in the Dubai real estate market gained momentum on Tuesday, December 20, recording AED1.8 billion worth of deals.
This was a near 50 percent jump from the AED1.3 billion deals registered on Monday.
Tuesday’s property deals included 495 sales transactions worth AED1.32 billion, 81 mortgage deals of AED454.83 million and 24 gift deals amounting to AED34.33 million, according to data released by the Dubai Land Department (DLD).
The sales included 479 villas and apartments worth AED1.28 billion and 16 land plots worth AED45.98 million.
The mortgages included 49 villas and apartments worth AED307.81 million and 32 land plots valued at AED147.02 million.
The emirate’s real estate market has been on a roll in recent weeks and months, with daily transactions witnessing record numbers.
In November, for instance, Dubai has recorded over 10,000 sales transactions amounting to AED30.5 billion ($8.30 billion), the highest ever since 2011, according to Property Finder.
The Dubai real estate market has also been seeing a record-breaking performance in off-plan property transactions, transacting more than AED12.7 billion for the first time in over 10 years.
The volume of off-plan properties saw a significant increase of 63 percent year-on-year attaining 5,116 transactions as compared to the same period last year.