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Dubai registers Dh2.53 billion worth of transactions on first working Friday
Total value of real estate transactions recorded in first week of year exceeds Dh7.24 billion
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The value of real estate transactions in Dubai on the first working Friday, following the adoption of the new weekly work system in the country, exceeded Dh2.53 billion, with 227 real estate transactions.
The total value of real estate transactions recorded in the first week of the new year exceeded Dh7.24 billion, with 1,766 transactions.
Data from Dubai Land Department (DLD) showed that the first working Friday witnessed 173 sales transactions worth Dh2.38 billion, 12 of which were plots of land worth Dh451.16 million and 161 were apartments and villas worth Dh1.93 billion.
The top three areas that saw the highest value of land sales transactions on Friday were:
- Marsa Dubai, which saw land sales worth Dh369 million
- Al Thanya Fifth, where a plot of land was sold for Dh28 million
- Palm Jumeirah, where a plot of land was sold for Dh17 million.
Jebel Ali First recorded the highest number of transactions on Friday with three sales transactions worth Dh6 million, followed by Palm Jumeirah with Dh17 million, and Warsan First with Dh4 million.
The three highest valued sales transactions featuring transfers of apartments and villas included an Dh500 million sales transaction in Palm Jumeirah, followed by an Dh495 million sales transaction in Marsa Dubai, and an Dh402 million sales transaction in Marsa Dubai.
Jebel Ali First recorded the most villa and apartment sales transactions on Friday with 23 sales transactions worth AED18 million; followed by Business Bay with 21 sales transaction worth Dh25 million; and Al Barsha South Fourth with 13 sales transaction worth Dh16 million.
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The total value of mortgage transactions concluded on Friday was Dh125.03 million, which included nine mortgage transactions for land worth Dh47.88 and 40 mortgage transactions for villas and apartments worth Dh77.15. The biggest mortgage transaction was registered in Al Thanyah Fourth featuring a value of Dh37 million followed by a mortgage transaction in Nad Al Sheba Third worth Dh11 million.
Five properties worth a total of Dh19.16 million were granted to first-degree relatives. Among these, the highest value of Dh12 million was registered in Al Merkadh followed by Dh3 million worth of property in Jebel Ali First.
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