Dubai’s real estate sector recorded AED 12.6 billion ($3.4 billion) worth of real estate transactions this week, according to Land Department data.
There were a total of 3,625 real estate transactions in the week ending June 16.
According to data from the Ministry of Land, 189 plots of land were sold for AED 2.28 billion ($621 million) and 2,753 apartments and villas for AED 7.01 billion ($1.9 billion).
The three largest property transactions were
- A plot of land in Palm Deira was sold for AED 167.88 million ($45.7 million).
- A plot of land in Business Bay was sold for AED 136 million ($37 million)
- A plot of land in Al Thanyah First was sold for AED 125 million ($34 million).
- Al Hebiah Fifth recorded the most transactions this week with 34 sales transactions worth AED 88.58 million ($24.1 million), followed by Wadi Al Safa 3 with 24 sales transactions and Madinat Hind 4 in third place with 24 sales transactions worth AED 28 million ($7.6 million).
The three largest transfers for apartments and villas were an apartment sold for AED 112 million ($30.5 million) in Island 2, an apartment sold for AED 86 million ($23.4 million) in Palm Jumeirah and an apartment sold for AED 80 million ($21.7 million) in Marsa Dubai.
The total amount of mortgaged properties this week amounted to AED 2.88 billion ($784 million), with the highest amount being a property in Al Wasl, which was mortgaged for AED 761 million ($202.2).
114 properties were awarded between first-degree relatives with a value of AED 415 million ($113 million).
Source: www.arabianbusiness.com
