Dubai records AED10.4 billion in weekly real estate transactions

DUBAI, 5th May, 2023 (WAM) -- A total of 3,050 real estate transactions worth AED10.4 billion were conducted during the week ending 5th May 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 189 plots were sold for AED1.19 billion, 2,239 apartments and villas were sold for AED5.11 billion.

The top three transactions were a land in Al Thanayah Fourth sold for AED52 million, followed by a land that was sold for AED40.62 million in Saih Shuaib 2, and a land sold for AED35.36 million in Palm Deira in third place.

Al Hebiah Fifth recorded the most transactions for this week by 63 sales transactions worth AED188.2 million, followed by MADINAT HIND 4 with 22 sales transactions worth AED29.01 million, and Jabal Ali First with 16 sales transactions worth AED58 million in third place.

The top three transfers for apartments and villas were a was sold for AED90 million in Al Merkadh, an apartment was second in the list sold for AED78 million in Jumeirah Second, and thirdly it was an apartment sold for AED67 million in Burj Khalifa.

The sum of the amount of mortgaged properties for the week was AED3.69 billion, with the highest being a land in Al Barshaa South Third, mortgaged for AED653 million. 110 properties were granted between first-degree relatives worth AED497 million.