The Dubai real estate sector saw AED8.2bn ($2.2bn) of property and land transactions this week, according to the Dubai Land Department.
Land department data showed a total of 1,524 real estate and property transactions, with Palm Jebel Ali topping the sales charts in the week ending October 20.
This week there were 232 plots sold for AED2.57bn ($700m) and 1,292 apartments and villas sold for AED3.08bn ($839m).
Dubai real estate sales this week
The top three transactions for land were, a plot in Al Hebiah Fourth sold for AED65.13m ($17.8m), followed by land sold for AED56.67m ($15.4m) in Al Thanayah Fourth, and land sold for AED51m ($13.9mm) in Al Yufrah 4.
Palm Jebel Ali recorded the most transactions this week, with 51 sales transactions worth AED1.19bn ($324m). This was followed by Al Hebiah Fifth with 24 sales transactions, worth AED91.65m ($25m), and Madinat Hind 4 with 21 sales transactions worth AED29.28m ($8m).
The top three transfers for apartments and villas were
- A home in Business Bay sold for AED132m ($36m)
- A home in Rega Al Buteen sold for AED80m ($21.7m
- A home in Mankhool sold for AED70.1m ($19m)
The sum of the amount of mortgaged properties for the week was AED2.03bn ($553m), with the highest being a land in Business Bay, mortgaged for AED788.28m ($214.6m).
133 properties were granted between first-degree relatives worth AED563m ($153m).
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