The bull run in Dubai’ real estate market continued unabated, with the city posting property acquisition deals to the tune of AED 2.2 billion ($599,087,720 approximately) on Monday.
Monday’s deals included 391 sales transactions worth AED1.27 billion, 59 mortgage deals of AED950.33 million, and 14 gift deals amounting to AED28.56 million, according to Dubai’s Land Department (DLD) data.
Dubai real estate sales
The sales included 352 villas and apartments worth AED978 billion, and 39 land plots worth AED291.56 million.
The mortgages included 47 villas and apartments worth AED905.56 million and 12 land plots valued at AED44.77 million.
The emirate has been witnessing a sustained demand for real estate assets in the past several months, with property deals breaching billion marks week after week.
Monday’s spike in real estate transactions comes on a day when the city witnessed sale of a patch of land for a record-breaking AED125 million ($34 million), shattering UAE real estate records in the process.
The land sale transaction, reported by Knight Frank, took place in Jumeirah Bay Island, and the plot measured 24,500sq ft.
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