Dubai records real estate transactions worth $1.8 billion in a single week as property sales skyrocket

Dubai recorded real estate and property transactions worth $1.8 billion (AED 6.7 billion) in total during the week ending Friday, 17 June, according to data released by the Dubai Land Department (DLD).

The sales included 213 plots worth AED 1.03 billion, as well as 1,652 apartments and villas worth AED 3.8 billion.

The top three transactions included land in Palm Jumeirah sold for AED 53.85 million, followed by land sold for AED 45.1 million in Al Barsha 1, and land sold for AED 53.85 million in Palm Jumeirah.

Al Hebiah Fifth recorded the most transactions this week with 75 sales transactions worth AED 161.08 million, followed by Jabal Ali First with 37 sales transactions worth AED 122.87 million, and Al Merkadh with 30 sales transactions worth AED 301 million.

The top three transfers for apartments and villas were an apartment was sold for AED 436 million in Marsa Dubai; an apartment sold for AED 431 million in Burj Khalifa; and an apartment sold for AED 428 million in Palm Jumeirah.

The sum of mortgaged properties for the week was AED 1.67 billion, with the highest being land in Al Karama mortgaged for AED 182 million.

A hundred properties were transacted between first-degree relatives worth AED 235 million.

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Anup Samuel Oommen is the Digital Editor of ITP Media Group’s Arabian Business title, and is a multiple award-winning financial journalist with vast experience across the construction, real estate, energy,…

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