Dubai’s real estate and property transactions reached AED 11.45B ($3.1B) this week, as reported by the Dubai Land Department.
In the week ending February 2, there were 3,677 transactions, encompassing land and property sales, along with mortgages.
A total of 192 plots were sold for AED 2.61B ($711M), while 2,699 apartments and villas changed hands for AED 5.75B ($1.6B).
The top three land transactions included a plot in Madinat Dubai Almelaheyah, sold for AED 614.96M ($167M), followed by land in Al Merkadh, sold for AED 146M ($40M), and a plot in Madinat Dubai Almelaheyah, sold for AED 141.34M ($38M).
Madinat Hind 4 recorded the highest number of transactions this week, with 51 sales transactions amounting to AED 118.15M ($32M). Al Hebiah Fifth followed with 27 sales transactions worth AED 78.4M ($21M), and Jebel Ali First secured third place with 14 sales transactions worth AED 70.74M ($19M).
The top three property transfers for apartments and villas included a property sold for AED 182M ($50M) in Al Mamzar, an apartment sold for AED 67.5M ($18M) in Al Wasl, and another apartment sold for AED 55M ($15M) in Um Suqeim Third.
The total value of mortgaged properties for the week was AED 2.24B ($610M), with the highest being a piece of land in Al Hebiah First, mortgaged for AED 458.77M ($125M).
Furthermore, 154 properties were granted between first-degree relatives, amounting to AED 852M ($232M), according to Arabian Business.
