Picture used for illustrative purpose.
A total of 1,733 real estate and property transactions valued at Dhs4.3 billion were registered during the week ending 15th April, 2021. 135 plots were sold for Dhs630.04 million, 1,107 apartments and villas were sold for Dhs2.05 billion.
The top three transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for Dhs53 million, followed by a land that was sold for Dhs51.4 million in Wadi Al Safa 3, and a land sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid in third place.
Al Hebiah Third recorded the most transactions for this week by 22 sales transactions worth Dhs54.07 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 21 sales transactions worth Dhs188.92 million, and Nad Al Shiba Third with 17 sales transactions worth Dhs44 million in third place.
The top three transfers for apartments and villas were an apartment was sold for Dhs289 million in Marsa Dubai, a villa was second in the list sold for Dhs239 million in Hadaeq Sheikh Mohammed Bin Rashid, and thirdly it was an apartment sold for Dhs145 million in Burj Khalifa.
The sum of the amount of mortgaged properties for the week was Dhs1 billion, with the highest being a land in Al Mamzer, mortgaged for Dhs490 million.
73 properties were granted between first-degree relatives worth Dhs359 million.
Dubai Land Department has released recently the findings of its real estate bulletin, which reflected the flexibility of Dubai’s real estate sector since the beginning of 2021 and its adaptation to the current circumstances related to the outbreak of COVID-19.
According to the real estate bulletin, titled, ‘Real Estate Updates,’ 3,036 new investors entered the market in January and February 2021, representing 62 per cent of the total number of investors during the same period.
The resilient nature of the sector in Dubai has boosted the trust of local and international investors in the emirate’s real estate environment and contributed to the continuity of the flow of real estate investments from the outset of the year, reaching Dhs14 billion by the end of February 2021.
The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.
The UAE’s real estate market is currently experiencing renewed vigor and momentum, which can be attributed to peaked rental and capital appreciation across some of the high-end properties located in the country.
Dubai real estate market recorded 446 sales transactions worth Dhs1.07 billion, in addition to 85 mortgage deals of Dhs168.99 million, and 29 gift deals amounting to Dhs34.46 million on Monday,
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