Dubai records Dhs9.1 billion in real estate transactions

DUBAI: A total of 3,105 real estate transactions worth Dhs9.1 billion were conducted in Dubai during the week ending 19th May 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 191 plots were sold for Dhs1.14 billion, and 2,284 apartments and villas were sold for Dhs6.03 billion.

The top three transactions included a land in Island 2 sold for Dhs135 million, followed by a land sold for Dhs50 million in Business Bay, and another land sold for Dhs50 million in Hadaeq Sheikh Mohammed Bin Rashid. Al Hebiah Fith recorded the top transactions for this week with 54 sales worth Dhs185.13 million, followed by MADINAT HIND 4 with 34 sales worth Dhs50.26 million, and Al Hebiah Third with 14 sales worth Dhs53 million.

The top three transfers for apartments and villas included an apartment sold for Dhs122 million in Island 2, another apartment sold for Dhs105 million in Palm Jumeirah, and a villa sold for Dhs74 million in World Islands.

The sum of mortgaged properties for the week was Dhs1.68 billion, with the highest being a land in Business Bay, mortgaged for Dhs350 million.

About 77 properties worth Dhs264 million were transferred between first-degree relatives.

A total of 3,112 real estate and property transactions, valued at Dhs9.4 billion, were conducted during the week ending May 12th, according to figures released by the Dubai Land Department (DLD). The DLD weekly real estate report noted that 170 plots were sold for Dhs1.89 billion, while 2,261 apartments and villas were sold for Dhs5.34 billion.