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Dubai real estate: $626m of property deals on Monday

Dubai starts new year with bumper day in real estate market

Written by Staff Writer
Dubai real estate
Dubai real estate: $626m of property deals on Monday

Dubai started 2023 with no signs of slowing down in the real estate sector.

The city’s real estate market recorded 457 sales transactions worth $551m (AED2bn), according to data from the Land Department.

In addition, there were 79 mortgage deals of $55m (AED202.61m), and 11 gift deals amounting to $23.2m (AED85.32m).

Dubai property deals

The sales included 407 villas and apartments worth $246m (AED902.97m), and 50 land plots worth $302m (AED1.11bn).

The mortgages included 62 villas and apartments worth $45.2m (AED166.03m) and 17 land plots valued at $10m (AED36.58m).

Dubai real estate is predicted to witness a more aggressive bull run in 2023, with the residential property segment projected to see a 46 percent growth next year, a latest research said.

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