Dubai real estate market shines with transactions worth $544.5 million on Thursday

The Dubai real estate market continued with its upbeat performance this month, registering transactions to the tune of $544.5 million (AED 2 billion) on a single day on Thursday, June 23, latest data released by Dubai’s Land Department (DLD) revealed.

The transactions included 1.19 billion from 438 sales transactions, 118 mortgage deals of AED 852.36 million and 18 gift deals amounting to AED 29.65 million, the data showed.

The sales included 362 villas and apartments worth AED 902.54 million, and 76 land plots worth AED 283.46 million.

The mortgage deals included 104 villas and apartments worth AED747.86 million and 14 land plots valued at AED 104.5 million, bringing the total realty transactions on Thursday to over AED 2 billion.

The emirate’s property market has been recording robust sales figures this week, with transactions valued at AED 1.7 billion on Wednesday and AED 1.2 billion on Monday.

Property deals on Wednesday included 486 sales transactions worth AED 1.31 billion, in addition to 93 mortgage deals worth AED 360.57 million, and 10 gift deals amounting to AED 30.74 million, according to the DLD data.

Last week, Dubai recorded real estate and property transactions worth $1.8 billion (AED 6.7 billion) in total during the week ending Friday, 17 June.

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.

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