Dubai’s real estate transactions reach Dhs1.5 billion

DUBAI: The real estate and properties transactions valued at Dhs1.5 billion in total during the week ending 10 May 2021. The sum of transactions was 621.

50 plots were sold for Dhs216.09 million, 417 apartments and villas were sold for Dhs815.89 million.

The top three transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for Dhs16.45 million, followed by a land that was sold for Dhs16.32 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs16.45 million in Hadaeq Sheikh Mohammed Bin Rashid in third place.

Al Hebiah Third recorded the most transactions for this week by 14 sales transactions worth Dhs 28.98 million, followed by Nad Al Shiba Third with 10 sales transactions worth Dhs26.96 million, and Hadaeq Sheikh Mohammed Bin Rashid with 8 sales transactions worth Dhs79 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs96 million in Marsa Dubai, an apartment was second in the list sold for Dhs 72 million in Palm Jumeirah, and thirdly it was a sold for Dhs63 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was 508 million, with the highest being a land in Al Nahda First, mortgaged for Dhs140 million.

7 properties were granted between first-degree relatives worth Dhs14 million.

A total of 1,557 real estate and properties transactions valued at Dhs3.4 billion were registered during the week ending 6th May 2021, according to a report issued by the Dubai Land Department (DLD). 111 plots were sold for Dhs486.92 million, 1,027 apartments and villas were sold for Dhs1.87 billion. The top three transactions were a land in Al Thanayah Fourth sold for Dhs37.5 million, followed by a land that was sold for Dhs37 million in Palm Jumeirah, and a land sold for Dhs37.5 million in Al Thanayah Fourth in third place.

Dubai Land Department announced recently that a total of 6,590 real estate transactions in Dubai were recorded in March 2021, valued at about Dhs22.9 billion. According to the real estate bulletin the sector posted a growth in number by 43 per cent and a growth in value by 40 per cent compared to March 2020. It also noted that March 2021 recorded the second highest number of real estate transactions since February 2017.