Dubai records Dh7.3 billion real estate transactions in a week

A total of 2,338 real estate transactions worth Dh7.3 billion were conducted during the week ending October 14, 2022, according to figures released by the Dubai Land Department (DLD).

A total of 106 plots were sold for Dh1.76 billion, and 1,791 apartments and villas were purchased for Dh3.81 billion.

The top three transactions were two plots of land sold for Dh600 million and Dh206.52 million on Palm Jumeirah, followed by another land sold for Dh44 million in Al Satwa.

Hadaeq Sheikh Mohammed bin Rashid recorded the most transactions for this week by 22 sales transactions worth Dh475.41 million, followed by Jabal Ali First with nine transactions worth Dh26 million and Al Hebiah Fifth with nine transactions worth Dh20.3 million.

The sum of the amount of mortgaged properties for the week was Dh1.49 billion, with the highest being a land in Island 2, mortgaged for Dh271 million.

About 77 properties were granted between first-degree relatives worth Dh249 million, the DLD stated.

— business@khaleejtimes.com