Dubai’s property deals hit $2.6bln in one week

Dubai’s property deals hit $2.6bln in one week

Dubai’s property market ended the week on another positive note, with total transactions in the last several days reaching 9.6 billion UAE dirhams ($2.6bln).

The value of deals for the week ending December 30, 2022, surpassed the previous week’s transactions that were valued at 9.1 billion UAE dirhams.

For this week, a total of 2,071 apartments and villas were snapped up for 5.64 billion UAE dirhams. At least 179 plots were also sold for 1.39 billion UAE dirhams.

A land in Marsa Dubai that was sold for 229.71 million UAE dirhams topped the deals for the week, followed by a land that was sold for 95 million UAE dirhams on the Palm Jumeirah island.

Mortgaged properties for the week reached 2 billion UAE dirhams.

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)

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