Data from the Dubai Land Department indicates that over 3,600 transactions were recorded in the week ending February 2.
This week, the Dubai Land Department reported real estate and property transactions reaching AED 11.45 billion ($3.1 billion). The transactions, comprising 3,677 deals including land and property sales, as well as mortgages, were recorded up to February 2. Among these transactions, 192 plots were sold, amounting to AED 2.61 billion ($711 million), and 2,699 apartments and villas were sold for AED 5.75 billion ($1.6 billion).
Dubai real estate this week
This week, the real estate sector in Dubai witnessed significant transactions, with the top three land deals including the sale of a plot in Madinat Dubai Almelaheyah for AED614.96m ($167m), followed by land transactions in Al Merkadh for AED146m ($40m), and another plot in Madinat Dubai Almelaheyah for AED141.34m ($38m).
Madinat Hind 4 recorded the highest number of transactions, totaling 51 sales transactions amounting to AED118.15m ($32m). Following closely, Al Hebiah Fifth had 27 sales transactions valued at AED78.4m ($21m), and Jebel Ali First secured the third position with 14 sales transactions totaling AED70.74m ($19m).
For apartments and villas, the top three transfers included a property in Al Mamzar sold for AED182m ($50m), an apartment in Al Wasl sold for AED67.5m ($18m), and another apartment in Um Suqeim Third sold for AED55m ($15m).
The total value of mortgaged properties for the week reached AED2.24bn ($610m), with the highest mortgage recorded for a land in Al Hebiah First, amounting to AED458.77m ($125m).
Furthermore, 154 properties were granted between first-degree relatives, with a total worth of AED852m ($232m).
