Dubai Real Estate Market Reports Over AED 10.6 Billion in Transactions for the Week Ending July 28, 2023

Dubai Real Estate Market Reports Over AED 10.6 Billion in Transactions for the Week Ending July 28, 2023

During the week ending July 28, 2023, the Dubai Land Department (DLD) revealed that a total of 3,252 real estate transactions were conducted, amounting to a staggering AED 10.6 billion.

The DLD report provided a breakdown of the transactions, indicating that 319 plots were sold for a total of AED 1.92 billion, while 2,137 apartments and villas were purchased, accumulating to AED 5.75 billion.

Notably, the top three transactions involved land deals, with a plot in Palm Jumeirah fetching AED 150 million, followed by a land sale in Al Hebiah Fourth for AED 90.19 million, and a plot in Saih Shuaib 4 for AED 58.01 million.

Madinat Hind 4 emerged as the most active area for sales transactions during the week, recording a significant 96 transactions amounting to AED 133.39 million. It was followed closely by Al Hebiah Fifth, with 69 sales transactions worth AED 187.68 million, and Wadi Al Safa 3, where 60 sales transactions were conducted, totaling AED 476 million.

In the category of apartment and villa transfers, the top three transactions were an apartment in Marsa Dubai sold for AED 265 million, another in Al Goze First for AED 207 million, and a villa in World Islands, which changed hands for AED 68 million.

The report also highlighted the mortgage activity during the week, revealing a total value of AED 2.53 billion in mortgaged properties. Additionally, 283 properties were granted between first-degree relatives, amounting to a combined value of AED 495 million.

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