Business

Dubai weeklong real estate transactions cross $2.18 billion

Dubai has recorded 2,624 real estate and properties transactions at a value of $2.18 billion (AED 8 billion) in total during the week ending 24th June 2022. The Dubai Land Department (DLD) report said that 274 plots were sold for AED 1.15 billion, while apartment and villa sales totaled 1,757 at a value AED 4 billion. The top three transactions were a land in Palm Jumeirah sold for AED 126.25 million. This was followed by a land that was acquired for AED 52.53 million in Al Thanayah Fourth, and a land transaction for AED 26 million in Umm Suqeim Third.

Dubai weeklong real estate transactions cross $2.18 billionAl Hebiah Fifth recorded the most transactions for this week with 154 sales transactions worth AED 333.49 million, followed by Jabal Ali First with 29 sales transactions totaling AED 88.95 million, and Al Merkadh with 17 sales transactions amounting to AED 130 million in third place. Meanwhile, Burj Khalifa came in first in terms of number of transfers for apartments and villas recording 223 transactions worth AED 632 million, with Marsa Dubai ranking second with 173 transactions worth AED 527 million, and Al Jaddaf in third with 151 transactions worth AED 203 million. The sum of the amount of mortgaged properties for the week was AED 2.73 billion. 77 properties were granted between first-degree relatives worth AED 151 million.

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