Dubai executes real estate transactions worth AED 4.9 billion in a week

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Real estate transactions worth AED 4.9 billion were recorded in Dubai during the week ending February 18.

That's according to figures released by the Dubai Land Department.

There were 1,277 transactions in total - 80 plots were sold for AED 417.81 million, while 776 apartments and villas were sold for AED 1.23 billion.

The top transaction was a land plot in Jebel Ali Industrial Second which fetched AED 77.7 million.

Nad Al Sheba Third recorded the most number of transactions this week (24 sales deals worth AED 58.52 million), followed by Al Hebiah Fourth (8 sales transactions worth AED 27.8 million), and Hadaeq Sheikh Mohammed Bin Rashid (5 sales transactions worth AED 21 million).

The top three residential transfers involved the sale of apartments in Marsa Dubai (AED 153 million), Business Bay (AED 112 million), and Burj Khalifa (AED 91 million).

The sum of the amount of mortgaged properties for the week was AED 3 billion, with the highest being a land in Wadi Al Safa 7, mortgaged for AED 709 million.

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