AED8.7 billion of weeklong real estate transactions in Dubai

Dubai has recorded 2,884 real estate and property transactions at the value of AED8.7 billion in total during the week ending 27 May 2022, according to Dubai Land Department (DLD).

The DLD weekly report said that 297 plots were sold for AED1.59 billion and 2,116 apartments and villas for AED4.75 billion.

The top three land transactions were land in Al Wasl sold for AED218 million, followed by one sold for AED110 million in Al Warsan First, and another sold for AED38.04 million in Saih Shuaib 2.

Al Hebiah Fifth recorded the most transactions for this week, with 89 sales transactions worth AED216.11 million, then Jabal Ali First with 57 sales transactions worth AED188.42 million, and Al Merkadh with 37 sales transactions worth AED292 million in third place.

The top three transfers for apartments and villas were an apartment sold for AED635 million in Burj Khalifa, an apartment sold for AED563 million in Business Bay, and an apartment sold for AED495 million in Al Wasl.

Moreover, the total value of mortgaged properties for the week reached AED2.02 billion. Meanwhile, 89 properties were granted between first-degree relatives worth AED413 million.