Dubai records over AED7.3 bn in weeklong transactions

A total of 1,809 real estate transactions worth AED7.3 billion were conducted during the week ending 7th October, 2022, according to figures released by the Dubai Land Department.

A total of 98 plots were sold for AED975.52 million, and 1,711 apartments and villas were purchased for AED4.47 billion.

The mortgaged properties for the week reached AED1.47 billion, while 157 properties were granted between first-degree relatives worth AED418.56 million.

The top three land transactions were a land in Business Bay sold for AED74 million, a land sold for AED72 million in Umm Al Sheif, and a land sold for AED58 million in Palm Jumeirah. Jebel Ali recorded the most transactions for this week with 18 sales transactions worth AED58 million, followed by Al Hebiah Fifth with 15 sales transactions worth AED52 million, and Mohammed bin Rashid Gardens with 14 sales transactions worth AED293 million.

The top three transactions for apartments and villas were sold in Palm Jumeirah for AED55 million, AED42 million and AED36 million respectively. Business Bay recorded the most transactions for this week with 211 sales transactions worth AED363 million, followed by Palm Jumeirah with 143 sales transactions worth AED1 billion, and Umm Suqeim Third with 137 sales transactions worth AED370 million.

WAM