Dubai's weeklong real estate transactions cross AED9bn

Dubai's weeklong real estate transactions cross AED9bn

DUBAI, 3rd February, 2023 (WAM) -- A total of 2,157 real estate transactions worth over AED 9 billion were conducted during the week ending 3rd February, 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report revealed that 237 plots were sold for AED 1.56 billion, with an additional 1,920 apartment and villa sales recorded totalling AED 5.77 billion.

Ranking first in transactions was a land in Al Wasl sold for AED 147.5 million, followed by a land in Island 2 sold for AED 112 million, and another in Mohammad bin Rashid Gardens sold for AED 54 million.

Al Hebiah Fifth recorded the most transactions for this week by 108 sales transactions worth AED 383.71 million, followed by Al Yufrah 1 with 28 sales transactions worth AED 163.27 million, and Al Hebiah Fourth with 14 sales transactions worth AED 149 million in third place.

The top three apartment and villa transfers were an apartment in Island 2 worth AED 410 million, an apartment sold for AED 220 million in Business Bay, and another in Palm Jumeirah sold for AED 125 million.

The value of mortgaged properties for the week reached AED 1.68 billion, with the highest being a land in Al Barsha South Fourth, mortgaged for AED 324 million. Meanwhile, 74 properties worth AED 665 million were granted between first-degree relatives.