Dubai property market flourishes, realty deals hit Dhs4.5b

Dubai property market flourishes, realty deals hit Dhs4.5b

The Dubai property market is gaining momentum as the City of Wonders emerges from a COVID-19 induced slowdown bucking the global trends. A total of 2,020 real estate and properties transactions were valued at Dhs4.5 billion in total during the week, according to Dubai Land Department (DLD). The DLD weekly report said 119 plots were sold for Dhs 845.1 million, 1,321 apartments and villas were sold for Dhs 2.25 billion. It noted that the top three transactions were a land in Marsa Dubai sold for Dhs125 million, followed by a land that was sold for Dhs57 million in Al Thanayah Fourth, and a land sold for Dhs 125 million in Marsa Dubai in third place. Al Hebiah Third recorded the most transactions for this week by 20 sales transactions worth Dhs 61.81 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 14 sales transactions worth Dhs 139.68 million, and Jumeirah First with 14 sales transactions worth Dhs 106 million in third place. The top three transfers for apartments and villas were an apartment was sold for Dhs 298 million in Marsa Dubai, an apartment was second in the list sold for Dhs 264 million in Al Merkadh, and thirdly it