According to the Dubai Land Department (DLD), Dubai Real Estate Market saw a total of 3,105 transactions during the week ending on May 19, 2023, with a combined value of AED 9.1B.
The report from DLD indicated that out of these transactions, 191 plots were sold for AED 1.14B, while 2,284 apartments and villas were sold for AED 6.03B, according to WAM.
The three highest-value transactions included the sale of a land in Island 2 for AED135 million, followed by a land sale in Business Bay for AED 50M, and another land sale in Hadaeq Sheikh Mohammed Bin Rashid for AED 50M.
Al Hebiah Fifth emerged as the leader in real estate transactions this week, with 54 sales amounting to AED 185.13M. Following closely was MADINAT HIND 4, which recorded 34 sales valued at AED 50.26M, and Al Hebiah Third with 14 sales worth AED 53M.
In terms of apartments and villas, the most notable transfers included an apartment in Island 2, sold for AED 122M, another apartment in Palm Jumeirah sold for AED 105M, and a villa in World Islands sold for AED 74M.
The total value of mortgaged properties for the week reached AED 1.68B, with the highest mortgage observed on a land located in Business Bay, amounting to AED 350M.
Additionally, there were 77 properties worth AED 264M that changed ownership between first-degree relatives.
