Tue. Sep 26th, 2023
    Dubai Real Estate Transactions Reach AED 24.7 Billion in One Week

    In the week ending September 1, 2023, the real estate and properties transactions in Dubai had a total value of AED 24.7 billion. Within this period, there were 3,223 plots sold for AED 1.82 billion, as well as 2,302 apartments and villas sold for AED 4.87 billion.

    The top three transactions consisted of a land in Al Thanayah Fourth, which was sold for AED 209 million, followed by a land in Al Barshaa South Third that was sold for AED 135.56 million, and another land in Al Barshaa South Third sold for AED 104.03 million.

    During this week, the region of Al Hebiah Fifth recorded the highest number of transactions with 73 sales worth AED 310.15 million. It was followed by Madinat Al Mataar with 38 sales transactions worth AED 135.97 million, and Madinat Hind 4 with 38 sales transactions worth AED 55.38 million.

    Among the transfers of apartments and villas, the highest-priced property was a villa sold for AED 95 million in Palm Jumeirah. Second on the list was another villa in Palm Jumeirah sold for AED 47.6 million, followed by an apartment in Zaabeel First sold for AED 47.29 million.

    Additionally, mortgaged properties amounted to AED 16.89 billion during the week, with the highest-value mortgage recorded for a land in Jabal Ali Industrial First at AED 13.79 billion. Furthermore, there were 171 properties granted between first-degree relatives, which in this context refers to an individual’s parents, siblings, children, or a fully-owned company by an individual.

    These figures demonstrate the continued growth and activity within the real estate sector in Dubai.

    – Dubai Land Department
    – Definitions: First-degree relatives comprise an individual’s parents, siblings, children, or a fully owned company by an individual.