Dubai records AED12.9 billion in weeklong real estate transactions

According to data released by the Dubai Land Department, 3,332 real estate transactions of AED 12.9 billion were made for the week ending March 10, 2023. (DLD).

According to the DLD report, 2,370 apartments and villas totaled AED 4.93 billion in sales, while 274 plots were sold for AED 3.17 billion.

The top three transactions included a 1.57 billion AED land sale in Al Khairan First, a 72 million AED land sale in Wadi Al Safa 3, and another 1.57 billion AED land sale in Al Khairan First.

With 117 sales transactions totaling AED 320.97 million, Al Hebiah Fifth had the most transactions this week, followed by Jabal Ali First with 40 transactions totaling AED 115.16 million and Madinat Al Mataar with 22 transactions totaling AED 83 million.

The top three apartment and villa transfers were a villa in Palm Jumeirah sold for AED 65 million, an apartment in Island 2 sold for AED 65 million, and an apartment in Burj Khalifa sold for AED 49 million.

The value of mortgaged properties for the week was AED 4.12 billion, while 267 properties worth AED 759 million were handed to first-degree relatives.