Dubai Real Estate Transactions Reach AED 15 Billion Last Week

Last week, Dubai’s real estate market recorded transactions totaling over AED 15 billion ($4.1 billion), according to the Land Department. Sales transactions dominated, amounting to AED 12.91 billion ($3.5 billion).

Transaction Details

From August 5 to August 9, there were 4,064 sales transactions. Among the notable deals listed on the Land Department’s website were:

– An apartment in Armani Beach Residences on Palm Jumeirah, sold for AED 48.9 million ($13.3 million)

– An apartment in Six Senses Residences in Dubai Marina, sold for AED 28.3 million ($7.7 million)

– An apartment in Royal Atlantis Resort and Residences on Palm Jumeirah, sold for AED 25.4 million ($6.9 million)

Mortgage and Gift Transactions

Additionally, mortgage transactions totaled AED 1.7 billion ($463 million) last week. Gift transactions during the same period amounted to AED 413 million ($112.5 million).

Source: Arabian Business

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