The real estate sector in Dubai recorded transactions worth AED 13.7B ($3.7B), marking an impressive week. Notably, two consecutive days saw deals exceeding $1B each.
The data from the Land Department reveals that a total of 3,244 transactions took place in the week ending on July 7. A total of 323 plots were sold for AED 3.33B ($907M), and buyers purchased 2,237 apartments and villas for AED 5.37B ($1.5B) in Dubai real estate sector during this impressive week.
Among the noteworthy land transactions, a plot in Marsa Dubai was sold for AED 230.14M ($63M), securing the top spot. In third place, a plot in Al Thanayah Fourth was sold for AED 130M ($35M).
Regarding the highest number of transactions, Al Hebiah Fifth led the way with 86 sales transactions amounting to AED 249.21M ($68M).
Following closely was Al Goze Second with 62 sales transactions worth AED 713.13M ($194M). Madinat Hind 4 secured third place with 49 sales transactions valued at AED 70M ($20M).
In terms of apartments and villas, the most significant transfers included an apartment in Umm Suqeim Third sold for AED 420M ($114M), followed by an apartment in Palm Jumeirah sold for AED 55M ($15M), and an apartment in Zaabeel First sold for AED 46M ($12.5M).
The real estate sector witnessed a total value of mortgaged properties reaching AED 3.02B ($822M) during the week. The highest value was assigned to a land in Madinat Hind 1, with a mortgage of AED 2B ($544.5M). Furthermore, individuals were granted a total of 196 properties among first-degree relatives, amounting to AED 2B ($544.5M).
