Dubai records over AED8.6bn in weeklong real estate transactions

Dubai records over AED8.6bn in weeklong real estate transactions

DUBAI, 31st March, 2023 (WAM) -- A total of 3,035 real estate transactions worth AED10.7 billion were conducted during the week ending 31st March, 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report said that 158 plots were sold for AED 1.27 billion, while apartment and villa sales stood at 2,261, totalling AED 5.11 billion.

The top three sales were a land in Al Khairan First worth AED 157.08 million, a land worth AED 67 million in Island 2, and a AED59 million land in The World Islands.

Al Hebiah Fifth recorded the most transactions for this week with 52 sales transactions worth AED 165 million, followed by Madinat Hind 4 with 21 sales transactions worth AED 26.78 million, and Jabal Ali First with 14 sales transactions worth AED 60 million in third place.

The top three apartment and villa transfers were an AED 82 million villa, an AED 57 million apartment and an AED 55 million apartment in Palm Jumeirah.

The value of mortgaged properties for the week settled at AED3.8 billion. Meanwhile, 123 properties were gifted between first-degree relatives worth AED 597 million.