Published On: September 9, 2023Categories: Real Estate1.2 min read237 wordsViews: 71

Dubai real estate sector records 1,892 transactions, including huge Palm Jumeirah villa]

The Dubai real estate sector recorded transactions valued at more than AED6bn ($1.6bn) in total during the week ending September 8, according to Dubai Land Department data.

The sum of transactions was 1,892, including a massive AED202m ($55m) for a villa in Palm Jumeirah.

152 land plots were sold for AED843.57m ($230m) and 1,740 apartments and villas were sold for AED4.04bn ($1.2bn).

Dubai real estate this week
The top three land transactions were a plot in Al Thanayah Fourth sold for AED58.63m ($16m), followed by land sold for AED58.25m ($16m) in Al Satwa, and a plot sold for AED42m ($11m) in Wadi Al Safa.

Al Hebiah Fifth recorded the most transactions for this week, with 48 sales transactions worth AED155.18m ($42m), followed by Madinat Al Mataar with 20 sales transactions worth AED66.12m ($18m), and Madinat Hind 4 with 14 sales transactions worth AED18.68m ($5.1m).

The top three transfers for apartments and villas were:

  • A villa sold for AED202m ($55m) in Palm Jumeirah
  • A home sold for AED132.03m ($36m) in Business Bay
  • A home sold for AED102m ($28m) in Palm Jumeirah

The sum of the amount of mortgaged properties for the week was AED959.92m ($261m) , with the highest being a land in Al Safouh Second, mortgaged for AED200m ($54m).

79 properties were granted between first-degree relatives worth AED192m ($52m).

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