Dubai records AED9.6 billion in weekly real estate transactions

DUBAI, A total of 2,790 real estate transactions worth AED9.6 billion were conducted during the week ending 30th December, 2022, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 179 plots were sold for AED 1.39 billion, while 2,071 apartments and villas were purchased for AED 5.64 billion.

The top three transactions were land in Marsa Dubai sold for AED 229.71 million, followed by land sold for AED 175 million in Jebel Ali Industrial Area 1, and a land sold for AED 95 million in Palm Jumeirah.

Al Hebiah Fifth recorded the most transactions for this week with 95 sales transactions worth AED 237.14 million, followed by Jabal Ali First with 24 sales transactions worth AED 79.4 million, and Al Yufrah 2 with 10 sales transactions worth AED 12 million.

The top three transfers for apartments and villas were an apartment sold for AED 336 million in Trade Centre, Second an apartment sold for AED 133 million in Island 2, and thirdly an apartment sold for AED 127 million in Island 2.

The sum of the amount of mortgaged properties for the week stood at around AED2 billion, with the highest being a land in Jumeirah First, mortgaged for AED 511.5 million. Meanwhile, 94 properties were granted between first-degree relatives worth AED 538 million.

Source: Emirates News Agency