Weekly real estate deals in Dubai topped AED 9 billion
The Dubai Land Department (DLD) announces a new record with weekly real estate transactions in the emirate exceeding AED 9 billion. These results were recorded for the week ending February 3, 2023. As of that moment, there were 2,157 real estate transactions with a total value of over AED 9 billion.
It is reported that 1,920 apartments and villas were sold for AED 5.77 billion, and 237 plots were purchased by local residents and foreign investors for AED 1.56 billion.
The land in Al Wasl, which was sold for AED 147.5 million, is in the first position in the list of the most expensive transactions, the next position is the land in Island 2, which was sold for AED 112 million, and the bronze in this list goes to land at Mohammed bin Rashid Gardens sold for AED 54 million.
An AED410 million apartment in Island 2, an AED220 million apartment in Business Bay, and an AED125 million apartment in Palm Jumeirah formed the undisputed top three condo deals.
Al Jufrah 1 is in a respectable second position with 28 sales worth AED 163.27 million, Al Hebiah Fourth is in third. Here, 14 sales were made in the amount of 149 million AED. Al Hebiah Fifth can be considered the leader of the week, it is this area that is rapidly breaking all records – 108 sales worth AED 383.71 million.
The total value of mortgaged properties in seven days was AED 1.68 billion, with land in Al Barsha South Fourth receiving the highest mortgage amount. Its size amounted to 324 million UAE dirhams. While this was going on, 74 properties totaling AED 665 million were distributed to first degree relatives.
