A mortgage in the amount of $41 million in Palm Jumeirah is particularly noteworthy. The Dubai Land Department documented over 1,800 real estate transactions during this period.
In the energy sector, UAE-based Masdar will invest in a major renewable energy project in the UK worth 13.9 billion dollars, Rishi Sunak announced. In the real estate sector, Aldar is focusing its attention on the British market and is investing 291 million dollars in London Square.
Dubai saw AED 8.3 billion ($2.4 billion) worth of real estate transactions and property deals this week, according to data from the Dubai Land Department. In the week ending December 1, a total of 1,802 transactions were completed, with 422 plots sold for AED 2.94 billion (USD 801 million) and 1,380 apartments and villas sold for AED 3.23 billion (USD 880 million).
The largest property transactions
The three largest land transactions included a plot in Hadaeq Sheikh Mohammed Bin Rashid for AED 125 million ($34 million), a plot in Al Barsha South Fourth for AED 73.5 million ($20 million) and a plot in Palm Jumeirah for AED 70 million ($19 million).
Wadi Al Safa 2 led in terms of number of transactions with 126 sales transactions worth AED 124.44 million ($34 million), followed by Madinat Al Mataar with 96 sales transactions worth AED 185.01 million ($50 million) and Palm Jebel Ali with 48 sales transactions worth AED 1.31 billion ($357 million).
The top three transfers for apartments and villas included a property sold for AED 275 million ($75 million) in Al Qusais Industrial Second, an apartment sold for AED 60 million ($16 million) in Island 2 and a house sold for AED 59 million ($16 million) in Um Suqeim First.
AED 1.39 billion ($379 million) of mortgages were issued this week, with the highest mortgage of AED 149.75 million ($41 million) on a property in Palm Jumeirah. In addition, 156 properties were awarded between first-degree relatives with a total value of AED 738 million (USD 201 million).Dubai’s real estate market saw transactions totaling $2.4 billion this week
