Dubai real estate market recorded property transactions to the tune of AED1.7 billion on Tuesday, January 3, as demand kept rising for residential assets in the emirate.
Tuesday’s property deals included 500 sales transactions worth AED1.42 billion, 68 mortgage deals of AED219.2 million and 16 gift deals amounting to AED140.24 million, according to Dubai Land Department (DLD) data.
The sales included 425 villas and apartments worth AED1.02 billion and 75 land plots worth AED399.22 million.
The mortgages included 46 villas and apartments worth AED66.39 million and 22 land plots valued at AED152.81 million.
Though Tuesday’s property deals were lower than the AED2 billion posted last Thursday, December 30, the rising level of land purchases reflect the continued boom in the emirate’s real estate sector.
Dubai’s property market saw a total of 2,926 transactions worth more than $2.478 billion (AED9.1 billion) during the week ending December 23, 2022.
Azizi Developments, a leading real estate developer in the UAE, said on Monday it sold a total of 6000 units in 2022 amounting to AED5.6 billion resulting in a 37 percent surge in sales.
In 2023, the developer plans to deliver over 11,000 units across 45 projects in the emirate.
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