Dubai records AED 12.5 bn in weeklong real estate transactions

Dubai [UAE], June 17 (ANI/WAM): A total of 3,625 real estate transactions worth AED 12.5 billion were conducted during the week ending June 16, 2023, according to Dubai Land Department's figures.

A total of 189 plots were sold for AED 2.28 billion, and 2,753 apartments and villas were sold for AED 7.01 billion.

The top three transactions were land in Palm Deira sold for AED 167.88 million, followed by land that was sold for AED 136 million in Business Bay, and land sold for AED 125 million in Al Thanyah First in third place.

Al Hebiah Fifth recorded the most transactions for this week with 34 sales transactions worth AED 88.58 million, followed by Wadi Al Safa 3 with 24 sales transactions worth AED 548.44 million, and Madinat Hind 4 with 24 sales transactions worth AED28 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED 112 million in Island 2, an apartment was second in the list sold for AED 86 million in Palm Jumeirah, and thirdly it was an apartment sold for AED 80 million in Marsa Dubai.

The sum of the amount of mortgaged properties for the week was AED 2.88 billion, with the highest being land in Al Wasl, mortgaged for AED 761 million.

A total of 114 properties were granted between first-degree relatives worth AED 415 million. (ANI/WAM)