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December 1, 2023

Property deals worth $2.2 billion in Dubai this week

Property transactions in Dubai exceeded $2.2 billion (AED8.1 billion) this week, according to Land Department data. A total of 2,574 real estate transactions were recorded during the week ending January 13. 221 plots were sold for $321.2m (AED1.18bn), while 1,889 apartments and villas were purchased for $1.3bn (AED4.93bn).

Property deals worth $2.2 billion in Dubai this weekThe top three transactions were a land sale in Jabal Ali First for $12.5m (AED46.1m), a land sale in Wadi Al Safa 4 for $12.3m (AED45.01m), and a land sale in Al Thanyah Fourth for $10.6m (AED39m). This week, Al Hebiah Fifth recorded 112 sales transactions worth $118.5m (AED433.61m), followed by Al Jadaf with 25 sales transactions worth $15.7m (AED57.53m), and Jabal Ali First with 21 sales transactions worth $31.3m (AED115m).

Three apartments and villas sold for $34m (AED125m) in Al Raffa, $32.7m (AED120m) in Al Jadaf, and $31.6m (AED116m) on Island 2. For the week, mortgaged properties reached $411.1m (1.51bn), while properties granted between first-degree relatives totalled 92 at $136mm (AED498m). In the previous week, Dubai saw real estate and property transactions valued at $2.7bn (AED10bn). A total of 2,702 transactions were completed.

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