Dubai real estate market on a roll; hits over $1 billion property deals on Monday
The Dubai real estate market has been on a bull run for several weeks now, with the October 24-28 week alone recording AED11.3 billion in transactions
The Dubai real estate market is on fire, with property deals in the emirate hitting another record high of AED3.8 billion on Monday.
Monday’s property deals included 625 sales transactions worth AED1.67 billion, 101 mortgage deals of AED276.37 million and 23 gift deals amounting to AED1.94 billion, according to Dubai Land Department (DLD) data.
The sales included 551 villas and apartments worth AED1.22 billion and 74 land plots worth AED452.11 million
The mortgages included 88 villas and apartments worth AED255.91 million and 13 land plots valued at AED20.46 million.
The Dubai real estate market has been on a bull run for several weeks now, with the October 24-28 week alone recording AED11.3 billion in transactions.
Jebel Ali First recorded the most transactions for last week in terms of land sales, while Business Bay recorded the most transactions for apartment and villa sales.
A total of 234 plots were sold for AED2.26 billion, and 1,983 apartments and villas were purchased for AED4.74 billion during the week.
The mortgaged properties for the week reached AED2.23 billion, while 97 properties were granted between first-degree relatives worth AED2.25 billion.
The top three land transactions were a land in Palm Jumeirah sold for AED300 million, a land sold for AED130 million in Island 2, and a land sold for AED86 million in World Islands.
Jebel Ali recorded the most transactions for this week with 105 sales transactions worth AED353 million, followed by Mohammed bin Rashid Gardens with 29 sales transactions worth AED634 million, and Al Mamzar with 23 sales transactions worth AED166 million.
The top three transactions for apartments and villas were sold in Palm Jumeirah for AED60 million, followed by Umm Suqeim Third for AED49 million, and Me’aisem First for AED45 million.
Business Bay recorded the most transactions for this week with 269 sales transactions worth AED449 million, followed by Dubai Marina with 241 sales transactions worth AED939 million, and Barsha South Fourth with 170 sales transactions worth AED143 million.
