Posted inLatest NewsNewsReal EstateUAE

Dubai real estate: $2.4bn of deals this week

Dubai real estate investors snapped up 2,177 villas and apartments this week

Dubai real estate
Dubai Land Department reports high value week of real estate deals

Dubai real estate transactions totalled AED8.692bn ($2.4bn) this week.

The sum came from 3,164 transactions, according to the Dubai Land Department.

218 plots were sold for AED1.9bn ($517m) and 2,177 apartments and villas were sold for AED4.73bn ($1.3bn).

Dubai real estate this week

The top transactions for land were a pair of plots in Palm Jumeirah both sold for AED550m ($150m).

Al Hebiah Fifth recorded the most transactions this week, with 94 sales worth AED326.67m ($89m), followed by Al Hebiah Fourth with 25 sales transactions worth AED247.85m ($67m), and Jebel Ali First with 24 sales transactions worth AED65m ($18m) in third place.

The top three transfers for apartments and villas were a property sold for AED61m ($16.6m) in Mankhool, a property sold for AED54m ($14.7m) in Palm Jumeirah, and an apartment sold for AED52m ($14.2m) in Marsa Dubai.

The sum of the amount of mortgaged properties for the week was AED1.54bn ($419m) and land in Palm Jumeirah, mortgaged for AED250m ($68m).

349 properties were granted between first-degree relatives, worth AED522m ($142m).

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