Dubai property sector gains pace as realty deals reach Dhs4.9 billion

Dubai property sector gains pace as realty deals reach Dhs4.9 billion

A total of 1,724 real estate transactions worth Dhs4.9 billion were conducted during the week in Dubai, according to figures released by the Dubai Land Department. A total of 139 plots were sold for Dhs784.14 million in addition to 1,172 apartments and villas for Dhs2.73 billion. The top three transactions were a land in Al Thanayah Fourth sold for Dhs 50 million, followed by a land that was sold for Dhs43 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs50 million in Al Thanayah Fourth in third place. Al Hebiah Fifth recorded the most transactions for this week by 62 sales transactions worth Dhs134.73 million, followed by Al Hebiah Fourth with 21 sales transactions worth Dhs154.78 million, and Al Yufrah 2 with 15 sales transactions worth Dhs15 million in third place. The top three transfers for apartments and villas were an apartment was sold for Dhs383 million in Marsa Dubai; the second was sold for Dhs270 million in Business Bay, and the third apartment was purchased at Dhs 252 million in Business Bay. Mortgaged properties for the week amounted to Dhs1.25 billion, with the highest being a land in Al Muteena, mortgaged for Dhs113 million. A