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Dubai records Dh8 billion in weekly real estate deals

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A total of 2,703 real estate transactions worth Dh8 billion were conducted during the week ending October 21, 2022, according to data released by the Dubai Land Department (DLD).

As many as 147 plots were sold for Dh1.12 billion while 2,023 apartments and villas were purchased for Dh4.79 billion.

Jabal Ali First recorded the most transactions for this week with 48 sales transactions worth Dh151.59 million, followed by Hadaeq Sheikh Mohammed bin Rashid with 18 sales transactions worth Dh421.33 million, and Al Yufrah 2 with 11 sales transactions worth Dh13 million.

The top three transfers for apartments and villas included one sold for Dh955 million in Palm Jumeirah, another purchased for Dh671 million in Marsa Dubai, and a third sold for Dh537 million in Business Bay.

The sum of the amount of mortgaged properties for the week was Dh1.72 billion, with the highest being a land in Palm Jumeirah, mortgaged for Dh416 million. Meanwhile, 107 properties were granted between first-degree relatives worth Dh387 million.

Source: Khaleej Times