Dubai records Dhs11.5 billion in real estate transactions

A total of 3,397 real estate and property transactions were conducted during the week ending on 3rd March 2023, valued at Dhs11.5 billion, according to data released by Dubai’s Land Department (DLD).

The DLD weekly report showed that 228 plots were sold for Dhs2.59 billion, while 2,498 apartments and villas were sold for Dhs5.54 billion.

The top land sales were worth Dhs397 million in Al Wasl, followed by Dhs168 million in Business Bay. Al-Habibiyah Fifth recorded the highest number of transactions with 71, valued at Dhs194 million, followed by Wadi Al-Safa 3 with 22 sales transactions valued at Dhs387 million, and Jebel Ali First with 18 transactions valued at Dhs57 million.

As for apartment and villa sales, the most significant transaction was a sale of AED 208 million in Business Bay, followed by a sale of Dhs111 million in Island 2, and finally, a sale of Dhs100 million in Al Qusais First. Al Barsha South 4 recorded the highest number of sales of apartments and villas, with 303 transactions worth Dhs231 million, followed by Wadi Al-Safa 5 with 288 transactions worth Dhs589 million, and Dubai Marina with 192 transactions worth Dhs633 million.

Mortgages totaled Dhs2.67 billion, with 72 land mortgages worth Dhs629.43 million, and 369 mortgages for villas and apartments worth Dhs2.04 billion.

The report also revealed that 230 properties were gifted between first-degree relatives, worth Dhs722.97 million.

Dubai real estate market recorded 628 sales transactions worth Dhs1.78 billion, in addition to 87 mortgage deals of Dhs157.44 million, and 23 gift deals amounting to Dhs129.07 million on Thursday, data released by Dubai’s Land Department (DLD) showed.

The sales included 564 villas and apartments worth Dhs1.29 billion, and 64 land plots worth Dhs485.74 million. The mortgages included 77 villas and apartments worth Dhs116.79 million and 10 land plots valued at Dhs40.66 million, bringing the total realty transactions of today to over Dhs2 billion.