Property deals in the Dubai real estate market hit another record high of AED2.7 billion on Thursday, reflecting the continuing bull run in the market.
Thursday’s property deals included 612 sales transactions worth AED1.77 billion and 109 mortgage deals of AED1.03 billion, according to Dubai Land Department (DLD) data.
The sales included 535 villas and apartments worth AED1.18 billion and 77 land plots worth AED588.01 million.
The mortgages included 83 villas and apartments worth AED877.91 million and 26 land plots valued at AED156.26 million.
Thursday’s property deals running into over AED2.7 billion were significantly higher than the AED1.7 billion recorded on Tuesday.
The emirate’s real estate sector has been seeing increased activities in recent weeks and months, with a total of 2,703 real estate transactions worth AED8 billion during the week ending October 21, 2022 alone.
Last week saw 147 plots were sold for AED1.12 billion, and 2,023 apartments and villas were purchased for AED4.79 billion.
Jebel Ali First recorded the most transactions for last week, with 48 sales transactions worth AED151.59 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 18 sales transactions worth AED421.33 million and Al Yufrah 2 with 11 sales transactions worth AED13 million.
During the July-September quarter, the Dubai real estate transactions reached a total worth of $19 billion (AED 69.4bn), according to a report by Morgan’s International Realty.
The total of 25,496 transactions in Q3 was an increase on the AED59 billion (22,431 transactions) in the previous quarter.
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