Dubai’s real estate market records over AED12.9 bn in weeklong transactions

07 November 2022 – EMIRATES NEWS AGENCY-WAM – www.wam.ae

A total of 3,474 real estate transactions worth AED9.62 billion were conducted during the week ending 4th November, 2022, according to figures released by the Dubai Land Department (DLD).

A total of 348 plots were sold for AED2.38 billion, and 3,126 apartments and villas were purchased for AED7.23 billion.

The top three transactions were two lands sold for AED350 million in World Islands and AED95 million in Island 2, followed by another land sold for AED74 million in Al Safa 2.

Jabal Ali recorded the most transactions for this week by 122 sales transactions worth AED429 million, followed by Al Hebiah Fifth with 72 transactions worth AED176 million and Al Hebiah Fourth with 24 transactions worth AED215 million.

The sum of the amount of mortgaged properties for the week was AED1.33 billion, with the highest being a land in Al Hamriya, mortgaged for AED150 million.

79 properties were granted between first-degree relatives worth AED2.12 million, the DLD stated.