Published On: May 25, 2023Categories: Business0.8 min read168 wordsViews: 122

Dubai real estate transactions approach half a billion dollars in one day

Dubai’s Land Department reported more than $493m of property transactions as the booming real estate market shows little sign of slowing down.

The city land department recorded 482 sales transactions worth $324m (AED1.19bn), in addition to 136 mortgage deals of $158.2 (AED580.36m), and 14 gift deals amounting to $10.4m (AED38.09m) on Monday, Land Department data showed.

The sales included 391 villas and apartments worth $218m (AED800.36m) and 91 land plots worth $107m (AED391.95m).

Dubai property deals
Mortgages included 107 villas and apartments worth $37m (AED135.32m) and 29 land plots valued at $121m (AED445.04m), bringing the total realty transactions of today to around $493m.

Last week Dubai saw more than $4bn of real estate transactions in the week.

The top three transfers for apartments and villas, were an apartment sold for $14.1m (AED52m) in Jumeirah Second, and another for $10.8m (AED40m in Palm Jumeirah. A third was sold for $8.9m (AED33m) in Palm Jumeirah.

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