The Dubai real estate sector saw land and property transactions valued at AED14bn ($4bn) in the final week of 2023, according to data released by the Dubai Land Department.
In total, during the week ending December 29, there were 3,063 transactions.
216 plots were sold for AED4.38bn ($1.2bn) and 2,126 apartments and villas were sold for AED5.38bn ($1.5bn).
Dubai real estate this week
The top three transactions for land were:
- A plot in Zaabeel Second sold for AED600m ($163m)
- Land sold for AED456.52m ($124m) in Al Thanyah Fifth
- A plot sold for AED213.4m ($58m) in Wadi Al Safa 4
Madinat Hind 4 recorded the most transactions this week, with 34 sales transactions worth AED52.39m ($14m), followed by Palm Jebel Ali with 32 sales transactions worth AED916.04m ($249m), and Al Hebiah Fifth with 25 sales transactions worth AED117.95m ($32m) in third place.
The top three transfers for apartments and villas were a property sold for AED357.39m ($97m) in Business Bay, a property sold for AED150m ($41m) in Al Barsha First, and another sold for AED131.5m ($36m) in Madinat Dubai Almelaheyah.
The sum of the amount of mortgaged properties for the week was AED3.17bn ($863m), with the highest being a land in Zaabeel Second, mortgaged for AED600m ($163m).
203 properties were granted between first-degree relatives worth AED2bn ($545m).
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