Dubai records AED11.1 billion worth weekly real estate transactions

A total of 3,321 real estate transactions worth AED11.1 billion were conducted in Dubai during the week ending 26th May 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments and villas were sold for AED 5.85 billion.

The top three transactions were a land in Madinat Al Mataar sold for AED 659.54 million, followed by a land that was sold for AED 169.39 million in Madinat Dubai Almelaheyah, and a land sold for AED 83 million in Al Barsha South Fourth in third place.

Wadi Al Safa 3 recorded the most transactions for this week by 61 sales transactions worth AED 728.44 million, followed by Al Hebiah Fifth with 41 sales transactions worth AED 106.84 million, and Jabal Ali First with 18 sales transactions worth AED 70 million in third place.

The top three transfers for apartments and villas were a was sold for AED 75 million in Al Safouh First, a villa was second in the list sold for AED 69 million in World Islands, and thirdly it was a villa sold for AED 61 million in World Islands.

The sum of the amount of mortgaged properties for the week was AED1.8 billion, with the highest being a land in Al Thanayah Fourth, mortgaged for AED 143 million.

154 properties were granted between first-degree relatives worth AED 933 million.

WAM