Dubai realty market zooms, transactions reach Dhs3.79 billion mark

Inayat-ur-Rahman,  Deputy Business Editor

The real estate and properties transactions in Dubai valued at Dhs3.79 billion in total during last week.  The sum of transactions was 997.

60 plots were sold for Dhs 294.66 million, 585 apartments and villas were sold for Dhs1.04 billion.

The top three transactions were a land in Wadi Al Safa 3 sold for Dhs 65.3 million, followed by a land that was sold for Dhs 32 million in Al Thanayah Fourth, and a land sold for Dhs65.3 million in Wadi Al Safa 3 in third place.

Nad Al Shiba Third recorded the most transactions for this week by 15 sales transactions worth Dhs 36.43 million, followed by Al Hebiah Third with 12 sales transactions worth Dhs 27.34 million, and Al Yufrah 2 with 4 sales transactions worth Dhs 4 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs 162 million in Marsa Dubai, an apartment was second in the list sold for Dhs 84 million in Burj Khalifa, and thirdly it was an apartment sold for Dhs70 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was 2 billion, with the highest being a land in Al Jadaf, mortgaged for Dhs490 million.

Meanwhile, a leading real estate developer in the UAE, is organizing a special sales day event at the Habtoor Grand Resort in Dubai on Saturday  (Jan. 30) in order to promote the company's projects in Dubai and Abu Dhabi.

Islam Ahmed Suleiman, CEO, Reportage Properties, said that the availability of sufficient liquidity in the company and the stability of its financial conditions enhance the opportunities for offering attractive offers to buyers.

He emphasised the buyers’ confidence in their projects, especially in light of the continuous progress in the construction work in all its projects, so as the units can be handed over on time.

The company’s exclusive offer will provide a golden opportunity for buyers to purchase residential units in all its projects in Abu Dhabi and Dubai, with a 10% down payment, and the benefit of a 10% discount or exemption from service fees for 10 years.

The UAE-based developer is developing 10 projects that provide about 4,000 housing units within the most important investment sites in Abu Dhabi and Dubai.