Property in Dubai: Real Estate deals this week totaled $2.478 billion
The real estate sector in Dubai continues its strong trajectory with sales and mortgages.
Real estate in Dubai has continued to boom, with more than $2.478 billion (AED 9.1 billion) in real estate deals this week.
There were 3,186 transactions registered in the city in the week ending December 9, according to data compiled by the Dubai Land Department.
A Land Department report showed that 419 land plots were sold for $610 million (AED 2.24 billion) and 2,233 apartments and villas were purchased for $1.263 billion (AED 4.64 billion).
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The top three deals were land sold at Dubai Marina for $72.3m (AED265.69m), followed by land sold for $17.5m (AED64.16m) at the Mir Islands, and land, sold for $10.3 million (UAE dirhams). 38 million) in Palm Deira.
Al Habiya Fifth recorded the most transactions this week with 200 buy-sell transactions worth $169 million (AED 621.52 million), followed by Jebel Ali First with 79 transactions worth $70 million (AED 255.32 million) and Al Wafra 2 with 25 transactions. deals worth $8.7 million (AED 32 million).
The top three condo and villa deals were $14.7 million (AED 54 million), $13.6 million (AED 50 million) and $10 million (AED 37 million), all located in second quarter of Jumeirah.
Mortgage property values this week were $476 million (AED 1.75 billion), with the highest being Me’aisem First land at $98 million (AED 360 million).
Meanwhile, 129 properties were transferred between first-degree relatives worth $136 million (AED 500 million).
Emaar founder Mohamed Alabbar said this week that he is confident that property prices in the emirate still have “great potential” for growth and that prices in the emirate should be studied in comparison to other cities in the world.
According to data issued by the Dubai Land Department, 3,186 real estate transactions of over AED 9.1 billion were made for the week ending December 9th, 2022. (DLD).
The DLD data showed that 2,233 flats and villas were bought for AED 4.64 billion, while 419 plots were sold for AED 2.24 billion.
The top three deals were the sale of land in Marsa Dubai for AED 265.69 million, land in the World Islands for AED 64.16 million, and land in Palm Deira for AED 38 million.
With 200 sales transactions totaling AED 621.52 million, Al Hebiah Fifth had the most transactions this week, followed by Jabal Ali First with 79 transactions totaling AED 255.32 million and Al Yufrah 2 with 25 transactions totaling AED 32 million.
An apartment worth AED 54 million, a villa worth AED 50 million, and an apartment worth AED 37 million were the top three transfers for apartments and villas, and they were all in Jumeirah Second.
The total value of mortgaged properties for the week came to AED 1.75 billion, with land in Me’Aisem First receiving the highest mortgage amount of AED 360 million. In the meantime, 129 properties totaling AED 500 million were distributed among first-degree relatives.
With 200 sales transactions totaling AED 621.52 million, Al Habiya Fifth recorded the most transactions this week, followed by Jebel Ali First with 79 transactions totaling AED 255.32 million and Al Yafra 2 with 25 transactions for a total of 32 million. dirhams.
An AED54 million apartment, an AED50 million villa and an AED37 million apartment were among the top three in transferring apartments and villas, all of which were in Jumeirah Second.
The total value of mortgaged properties this week was AED1.75 billion, with land in Meisem First receiving the highest mortgage amount of AED360 million. Meanwhile, 129 properties worth AED 500 million have been handed over to first-degree relatives.
