Dubai records Dhs3.4 billion real estate transactions
Picture used for illustrative purpose.
111 plots were sold for Dhs486.92 million, 1,027 apartments and villas were sold for Dhs1.87 billion.
The top three transactions were a land in Al Thanayah Fourth sold for Dhs37.5 million, followed by a land that was sold for Dhs37 million in Palm Jumeirah, and a land sold for Dhs37.5 million in Al Thanayah Fourth in third place.
Al Hebiah Third recorded the most transactions for this week by 30 sales transactions worth Dhs64.78 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 15 sales transactions worth Dhs121.1 million, and Nad Al Shiba First with 15 sales transactions worth Dhs37 million in third place.
The top three transfers for apartments and villas were an apartment was sold for Dhs336 million in Marsa Dubai, an apartment was second in the list sold for Dhs217 million in Palm Jumeirah, and thirdly it was a sold for Dhs129 million in Palm Jumeirah.
The sum of the amount of mortgaged properties for the week was Dhs1 billion, with the highest being a land in Al Thanyah First, mortgaged for Dhs91 million.
63 properties were granted between first-degree relatives worth Dhs110 million.
Dubai Land Department announced recently that a total of 6,590 real estate transactions in Dubai were recorded in March 2021, valued at about Dhs22.9 billion. According to the real estate bulletin the sector posted a growth in number by 43 per cent and a growth in value by 40 per cent compared to March 2020. It also noted that March 2021 recorded the second highest number of real estate transactions since February 2017. The bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively. The bulletin highlighted continued attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64 per cent of the total number of investors during the same period.
