Dubai realty transactions cross Dhs4.3 billion mark

Inayat-ur-Rahman, Deputy Business Editor

The real estate and properties transactions valued at Dhs4.3 billion in total during last week in Dubai. According to the Department of Land and Property in Dubai, 109 plots were sold for Dhs438.22 million, 1,035 apartments and villas were sold for Dhs1.66 billion.

The top three transactions were a land in Palm Jumeirah sold for Dhs38 million, followed by a land that was sold for Dhs35 million in Island 2, and a land sold for Dhs38 million in Palm Jumeirah in third place.

Nad Al Shiba Third recorded the most transactions for this week by 27 sales transactions worth Dhs66.29 million, followed by Al Hebiah Fourth with 20 sales transactions worth Dhs45.5 million, and Nad Al Shiba First with 18 sales transactions worth Dhs36 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs152 million in Marsa Dubai, an apartment was second in the list sold for Dhs139 million in Business Bay, and thirdly it was a villa sold for Dhs134 million in Nad Al Shiba First.

The sum of the amount of mortgaged properties for the week was Dhs2 billion, with the highest being a land in Madinat Dubai Almelaheyah, mortgaged for Dhs300 million.

Meanwhile, the UAE leading developer has launched a special offer that provides buyers with the opportunity to purchase residential units in all of its projects in Abu Dhabi and Dubai, without down payment, only 1 per cent monthly payment during the implementation period, with the advantage of a 5% discount.

Islam Ahmad Suleiman, CEO, Reportage Properties told Gulf Today that  they have started the year 2021 by making a distinguished offer, which includes (zero down payment, in addition to paying 1% per month during the implementation period, provided that the remaining amount is paid upon handing-over, without any payments  during  implementation, as well as 5 % discount."

"We have sufficient liquidity and stable financial conditions, enhancing the chances of making attractive offers to buyers, by exempting from the down payment,” he added.

Suleiman noted that the company achieved record sales during the year 2020, which exceeded Dhs812m, with a growth ratio of 125% compared to 2019, despite the challenges related to the repercussions of the spread of the "COVID-19".