Thursday 09 february 2023 - 6:37:14 am

Dubai records AED8 billion in weekly real estate transactions


DUBAI, 21st October, 2022 (WAM) -- A total of 2,703 real estate transactions worth AED8 billion were conducted during the week ending 21st October, 2022, according to figures released by the Dubai Land Department (DLD).

147 plots were sold for AED1.12 billion, and 2,023 apartments and villas were purchased for AED4.79 billion.

The top transactions were a land Fourth sold for AED85 million in Al Thanayah, and another sold for AED63 million in Island 2.

Jabal Ali First recorded the most transactions for this week with 48 sales transactions worth AED151.59 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 18 sales transactions worth AED421.33 million, and Al Yufrah 2 with 11 sales transactions worth AED13 million.

The top three transfers for apartments and villas included one sold for AED955 million in Palm Jumeirah, another purchased for AED671 million in Marsa Dubai, and a third sold for AED537 million in Business Bay.

The sum of the amount of mortgaged properties for the week was AED1.72 billion, with the highest being a land in Palm Jumeirah, mortgaged for AED416 million. Meanwhile, 107 properties were granted between first-degree relatives worth AED387 million.

Lina Ibrahim/ Amjad Saleh