A Whopping $6.7 Billion in Dubai Real Estate Transactions in the Past Week

Dubai’s real estate sector witnessed a remarkable surge, with property transactions amounting to AED24.7 billion ($6.7 billion) in the week ending September 1, as reported by the Dubai Land Department.

During this period, a total of 3,223 transactions took place, comprising 236 plot sales valued at AED1.82 billion ($496 million) and 2,302 apartment and villa sales totaling AED4.87 billion ($1.3 billion).

The top three land transactions of the week included:

  1. A plot in Al Thanayah Fourth, sold for AED209 million ($57 million).
  2. A plot in Al Barsha South Third, changing hands for AED135.56 million ($37 million).
  3. Another plot in Al Barsha South Third, sold for AED104.03 million ($28.3 million).

Al Hebiah Fifth secured the lead in transaction volume, boasting 73 sales transactions worth AED310.15 million ($84.4 million). It was followed by Madinat Al Mataar, recording 38 sales transactions worth AED135.97 million ($37 million), and Madinat Hind 4, which had 38 sales transactions worth AED55.38 million ($15 million) to claim the third spot.

Among apartment and villa transactions, the top three transfers included:

  1. A villa in Palm Jumeirah, fetching AED95 million ($26 million).
  2. Another residence in Palm Jumeirah, sold for AED47.6 million ($13 million).
  3. An apartment in Zaabeel First, changing hands for AED47.29 million ($12.9 million).

The total value of mortgaged properties for the week reached AED16.89 billion ($4.6 billion), with the highest being a piece of land in Jebel Ali Industrial First, mortgaged for AED13.79 billion ($3.7 billion).

Furthermore, 171 properties were granted to first-degree relatives, collectively valued at AED1 billion ($272.3 million).

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