Dubai real estate: $479m of property deals on Thursday

Dubai saw nearly half a billion dollars of property transactions on Thursday as the real estate sector in the city remains active towards the end of the year.

According the data released by the Dubai Land Department there were 468 sales transactions worth $379m (AED1.39bn), in addition to 84 mortgage deals of $71m (AED259.89m), and 65 gift deals amounting to $30m (AED109.6m) on Thursday.

The sales included 401 villas and apartments worth $280m (AED1.03bn) and 67 land plots worth $100m (AED363.83m), while mortgages included 70 villas and apartments worth $53m (AED196.01m) and 14 land plots valued at $17m (AED63.88m, bringing the total realty transactions for the day to more than $478m (AED1.8bn).