The Dubai real estate sector witnessed AED 14.2B ($3.9B) in transactions this week, as per data from the Dubai Land Department.
In the week ending January 26, 2024, the recorded transactions amounted to a total of 4,123.
Recent data indicates sales of 312 plots for AED 2.95B ($803M) and transactions involving 2,696 apartments and villas for AED 5.84B ($1.6B).
Dubai real estate highlights this week:
The top three land transactions included a plot in Al Barsha South Second, sold for AED 210.1M ($57M), followed by land in Saih Shuaib 2 for AED 103.74M ($28M), and a plot in Saih Aldahal for AED 100M ($27M).
Madinat Hind 4 recorded the highest transactions this week, with 133 sales worth AED 338.03 M ($92M), followed by Al Hebiah Fifth with 49 sales at AED 168.94M ($46M), and Al Hebiah Fourth with 20 sales at AED 500.12M ($136M) in third place.
The top three transfers for apartments and villas included a property sold for AED1 77.13M ($48M) in Nad Al Sheba First, a second-ranking apartment sold for AED 78.63M ($21M) in Palm Jumeirah, and a third-ranking apartment sold for AED 44M ($12M) in Palm Jumeirah.
The total value of mortgaged properties for the week reached AED 4.6B ($1.3B), with the highest mortgage recorded for land in Trade Centre First, amounting to AED 962.2M ($262M).
Arabian Business reported that first-degree relatives received a total of 195 properties, with a combined value of AED 850M ($231M).
