Dubai records weekly real estate transactions of AED8 billion

According to data supplied by the Dubai Land Department, 2,703 real estate transactions of AED8 billion were made for the week ending October 21, 2022 (DLD).

For AED1.12 billion, 147 plots were sold, while AED4.79 billion was spent on 2,023 apartments and villas.

The top transactions were a land Fourth sold for AED85 million in Al Thanayah, and another sold for AED63 million in Island 2.

With 48 purchases for AED151.59 million, Jabal Ali First had the most transactions this week, followed by Hadaeq Sheikh Mohammed Bin Rashid (18 sales worth AED421.33 million), and Al Yufrah 2 (11 sales worth AED13 million).

One unit was sold for AED955 million in Palm Jumeirah, another was bought for AED671 million in Marsa Dubai, and a third was sold for AED537 million in Business Bay. These were the top three transfers for flats and villas.

The total value of mortgaged properties for the week was AED1.72 billion, with a Palm Jumeirah site mortgaged for AED416 million accounting for the largest amount. In the meantime, 107 properties valued at AED387 million were distributed among first-degree relatives.