73 villas in Dubai’s Saih Shuaib sold for Dhs560 million

Dubai’s real estate market saw significant sales at the start of the week, with 73 villas sold in Saih Shuaib area for over Dhs560 million.

According to Dubai Land Department’s Dubai REST app, the villas, both sold and resold, are located in Saih Shuaib 1 area within the Lunaya project. Some 31 villas covering an area of 80,400 square feet were sold for Dhs206.3 million at an average price of Dhs82,300 per square foot.

The same project saw the resale of 42 villas spanning 159,400 square feet for nearly Dhs354 million at an average price of Dhs101,600 per square foot.

In the land sector, the Business Bay area witnessed the resale of a plot of land covering an area of 34,400 square feet for Dhs310 million at an average price of Dhs9,013 per square foot.

As far aDus land gift deals are concerned, Dubai Islands recorded three commercial gift land deals covering an area of 706,500 square feet for Dhs734.5 million at an average price of Dhs3,054 per square foot.

The World Islands also witnessed a commercial gift land transaction spanning 3 million square feet for Dhs209.2 million at an average price of Dhs70 per square foot.

At the start of trading on Monday, the emirate’s sales amounted to Dhs2.16 billion, resulting from 556 transactions, while mortgages amounted to Dhs525.6 million, resulting from 307 transactions and gifts amounted to Dhs1.04 billion resulting from 17 transactions.