Dubai records $2.7bln in weekly real estate transactions

Dubai records $2.7bln in weekly real estate transactions

DUBAI – According to the Dubai Land Department (DLD) weekly report, there were 3,267 real estate and property transactions conducted in Dubai during the week ending February 24, 2023, with a total value of AED 10 billion. Of these transactions, 168 plots were sold for AED 1.26 billion, while 2,230 apartments and villas were sold for AED 5.14 billion.

The top three transactions involved the sale of land in Um Suqaim Second for AED 116 million, a land sold for AED79 million in Satwa area, followed by a land sold for AED70 million in Al Thanayah.

Al Hibiya Fifth recorded the most transactions during the week, with 68 sales transactions worth AED 198.49 million, followed by Al Hibiya Fourth with 26 sales transactions worth AED 264.5 million, and Jabal Ali First with 18 sales transactions worth AED 66 million.

For apartments and villas, the top three transfers involved a property sold for AED 125 million in Al Nahda First, another property sold for AED 42 million in Al Thanayah Fourth, and an apartment sold for AED 36 million in Palm Jumeirah.

During the week, the sum of mortgaged properties was AED 3.01 billion, with the highest being an apartment in Palm Jumeirah mortgaged for