Dubai posted real estate transactions worth $380 million (AED1.2 billion) on Monday as the strong momentum in the property market continues.
There were 501 sales real estate transactions recorded on the first day of the week, in addition to 117 mortgage deals of AED278.84 million and eight gift deals amounting to AED7.69 million, according to data released by the Dubai Land Department (DLD).
The sales included 422 villas and apartments worth AED931.9 million, and 79 land plots worth AED263.52 million, while mortgages included 96 villas and apartments worth AED234.5 million and 21 land plots valued at AED44.34 million, bringing the total realty transactions of today to over AED1.4 billion.
Last week, Dubai recorded real estate and property transactions worth $1.8 billion (AED 6.7 billion) in total during the week ending Friday, 17 June.
The sales included 213 plots worth AED 1.03 billion, as well as 1,652 apartments and villas worth AED 3.8 billion.
The top three transactions included land in Palm Jumeirah sold for AED 53.85 million, followed by land sold for AED 45.1 million in Al Barsha 1, and land sold for AED 53.85 million in Palm Jumeirah.
Al Hebiah Fifth recorded the most transactions this week with 75 sales transactions worth AED 161.08 million, followed by Jabal Ali First with 37 sales transactions worth AED 122.87 million, and Al Merkadh with 30 sales transactions worth AED 301 million.
The top three transfers for apartments and villas were an apartment was sold for AED 436 million in Marsa Dubai; an apartment sold for AED 431 million in Burj Khalifa, and an apartment sold for AED 428 million in Palm Jumeirah.
The sum of mortgaged properties for the week was AED 1.67 billion, with the highest being land in Al Karama mortgaged for AED 182 million.
A hundred properties were transacted between first-degree relatives worth AED 235 million.
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