Dubai’s real estate market records over AED7.3 billion in weeklong transactions

According to data supplied by the Dubai Land Department, 2,338 real estate transactions of AED7.3 billion were made for the week ending October 14, 2022. (DLD).

1,791 apartments and villas were bought for AED3.81 billion, while a total of 106 plots were sold for AED1.76 billion.

Two plots in Palm Jumeirah were sold for AED 600 million and AED 206.52 million, respectively, and another site in Al Satwa was sold for AED 44 million to round up the top three transactions.

22 sales transactions totaling AED 475.41 million were registered by Hadaeq Sheikh Mohammed Bin Rashid this week, followed by Jabal Ali First (9 transactions totaling AED 26 million) and Al Hebiah Fifth (9 transactions totaling AED 20.3 million).

The total value of mortgaged properties for the week came to AED 1.49 billion, with a land on Island 2 having the highest mortgage of AED 271 million.

According to the DLD, 77 properties worth AED 249 million were given to first-degree relatives.