Dubai records AED12.5 bn in weeklong real estate transactions

A total of 3,625 real estate transactions worth AED12.5 billion were conducted during the week ending 16 June 2023, according to Dubai Land Department's figures.

A total of 189 plots were sold for AED2.28 billion, and 2,753 apartments and villas were sold for AED7.01 billion.

The top three transactions were a land in Palm Deira, sold for AED 167.88 million, followed by a land that was sold for AED 136 million in Business Bay, and a land sold for AED 125 million in Al Thanyah First in third place.

Al Hebiah Fifth recorded the most transactions for this week by 34 sales transactions worth AED 88.58 million, followed by Wadi Al Safa 3 with 24 sales transactions worth AED 548.44 million, and Madinat Hind 4 with 24 sales transactions worth AED28 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED112 million in Island 2, an apartment was second in the list sold for AED 86 million in Palm Jumeirah, and thirdly it was an apartment sold for AED 80 million in Marsa Dubai.

The sum of the amount of mortgaged properties for the week was AED2.88 billion, with the highest being a land in Al Wasl, mortgaged for AED 761 million. 114 properties were granted between first-degree relatives worth AED 415 million.