Dubai records Dh11.5b realty deals this week

Real estate and properties transactions in Dubai were valued at Dh11.5 billion during the week ending March 3, data from the Dubai Land Department showed on Friday. A total of 3,397 transactions was recorded during the period.

In all, 228 plots were sold for Dh2.59 billion, along 2,498 apartments and villas that were sold for Dh5.54 billion.

The top three land transactions were plots in Business Bay that were sold for Dh168.28 million, Dh167.81 million and Dh168.28 million respectively.

Al Hebiah Fifth recorded the most transactions for this week by 71 sales transactions worth Dh193.64 million, followed by Wadi Al Safa 3 with 22 sales transactions worth Dh386.68 million, and Jabal Ali First with 18 sales transactions worth Dh57 million in third place.

The top three transfers for apartments and villas were a property for Dh208 million in Business Bay. Second on the list was an apartment sold for Dh111 million in Island 2, while a property Al Qusais First sold for Dh100 million took third place.

The sum of the amount of mortgaged properties for the week was 2.67 billion, with the highest being a land in Jabal Ali First, mortgaged for Dh796 million.

230 properties were granted between first-degree relatives worth Dh723 million.

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