The Dubai real estate sector recorded AED23.38bn ($6.36bn) if transactions in the week ending October 27.
According to the Dubai Land Department there were 1,761 transactions this week, with the largest being a massive AED13.8bn ($3.8bn) mortgage for land in Jebel Ali First.
The Land Department data showed 265 plots of land were sold for AED2.84bn ($773m) and 1,496 apartments and villas sold for AED3.71bn ($1bn).
Dubai real estate this week
The top three transactions for land were a plot in Al Yufrah 1 sold for AED74.78m ($20.4m), followed by land sold for AED64.88m ($17.7m) in Al Hebiah Fourth, and land sold for AED61.92m ($16.9m) in Al Goze Second in third place.
Al Hebiah Fifth recorded the most transactions this week, with 56 sales transactions worth AED277.95m ($75.7m).
This was followed by Madinat Hind 4 with 51 sales transactions worth AED101.23m ($27.6m) and Palm Jebel Ali with 38 sales transactions worth AED894.06m ($243m) in third place.
The top three transfers for apartments and villas were:
- A building sold for AED133.61m ($36.4m) in Marsa Dubai
- An apartment sold for AED63.92m ($17.4m) in Palm Jumeirah
- An apartment sold for AED53.7m ($14.6m) in Palm Jumeirah
The sum of mortgaged properties for the week was AED16.26bn ($4.4bn), with the highest being a land in Jebel Ali Industrial First, mortgaged for AED 13.79 billion. ($3.8bn)
104 properties were granted between first-degree relatives worth AED565m ($154m).
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