Dubai records over AED10 billion in weeklong real estate transactions

According to data released by the Dubai Land Department, 2,173 real estate transactions totaling more than AED 10 billion were made for the week ending January 6, 2023. (DLD).

For a combined AED 4.89 billion, 1,903 apartments and villas as well as 270 plots totaling AED 2.25 billion were sold.

The top three deals involved the sale of land in Marsa Dubai for AED 623.07 million, land in Al Thanyah Fifth for AED 77.23 million, and land in Marsa Dubai for AED 623.07 million.

Al Hebiah Fifth took the lead with 133 sales transactions totaling AED 386.38 million. Jabal Ali First came in second with 49 sales transactions totaling AED 228.15 million, and Al Merkadh came in third with 12 sales transactions totaling AED 125 million.

The top three transfers for flats and villas were an apartment in Island 2 that went for AED 119 million, a villa in Island 2 that went for AED 115 million, and an apartment in Island 2 that went for AED 75 million.

The total number of mortgaged properties for the week was 1.85 billion, with a Burj Khalifa building’s AED 300 million mortgages representing the largest amount.

101 properties worth AED 1 billion were distributed among first-degree relatives.