The flurry of residential property deals continued unabated in the Dubai real estate market, with the value of total deals hitting over AED 1.8 billion on Thursday, September 1.
The deals registered on Thursday included 414 sales transactions worth AED 1.19 billion, 101 mortgage deals of AED216.02 million and 19 gift deals amounting to AED477.33 million, according to data released by Dubai’s Land Department (DLD).
The sales deals included 368 villas and apartments worth AED736.06 million and 46 land plots worth AED453.75 million.
The mortgages included 85 villas and apartments worth AED185.55 million and 16 land plots valued at AED30.47 million.
The Dubai real estate market has been on an upswing in the recent months, hitting over AED 1 billion sales transaction on several days and weeks in a row in the last 2-3 months.
The emirate recorded residential property transactions to the tune of AED 1.4 billion on August 23, while they amounted to AED10.3 billion ($2.8 billion) during the week ending August 19 – across more than 3,000 deals.
Apartment and villa sales dominated at 2,239, while 344 plots were sold during the week, the DLD data showed.
The biggest transaction was a land sale in Al Wasl at AED400.18 million, followed by a AED205 million land sale in Hadeq Mohammed bin Rashid.
A land in Palm Jumeirah sold for AED130 million was also among the top transactions.
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