The Dubai real estate market saw another high on Tuesday, with property deal transactions recording over AED1.7 billion.
Tuesday’s property deals recorded include 425 sales transactions worth AED1.32 billion, 71 mortgage deals of AED386.7 million and 12 gift deals amounting to AED56.77 million, according to Dubai Land Department (DLD) data.
The sales included 403 villas and apartments worth AED1.17 billion and 22 land plots worth AED149.92 million.
The mortgages included 55 villas and apartments worth AED315.5 million and 16 land plots valued at AED71.2 million.
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 AED 4.79 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, Dubai real estate transactions reached a total worth of $19 billion (AED69.4 billion), 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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