Home » Dubai records AED11.5 billion in weekly real estate transactions

Dubai records AED11.5 billion in weekly real estate transactions

by Dubaiforum

DUBAI, 3rd March, 2023 (WAM) –A total of 3,397 real estate and property transactions were conducted during the week ending on 3rd March 2023, valued at AED 11.5 billion, according to data released by Dubai’s Land Department (DLD).

The DLD weekly report showed that 228 plots were sold for AED 2.59 billion, while 2,498 apartments and villas were sold for AED 5.54 billion.

The top land sales were worth AED 397 million in Al Wasl, followed by AED 168 million in Business Bay. Al-Habibiyah Fifth recorded the highest number of transactions with 71, valued at AED 194 million, followed by Wadi Al-Safa 3 with 22 sales transactions valued at AED 387 million, and Jebel Ali First with 18 transactions valued at AED 57 million.

As for apartment and villa sales, the most significant transaction was a sale of AED 208 million in Business Bay, followed by a sale of AED 111 million in Island 2, and finally, a sale of AED 100 million in Al Qusais First. Al Barsha South 4 recorded the highest number of sales of apartments and villas, with 303 transactions worth AED 231 million, followed by Wadi Al-Safa 5 with 288 transactions worth AED 589 million, and Dubai Marina with 192 transactions worth AED 633 million.

Mortgages totaled AED 2.67 billion, with 72 land mortgages worth AED 629.43 million, and 369 mortgages for villas and apartments worth AED 2.04 billion.

The report also revealed that 230 properties were gifted between first-degree relatives, worth AED 722.97 million.

Tariq Al Fahaam/ Muhammad Aamir

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