The president of the French National Assembly, who is a close ally of President Emmanuel Macron, has been charged over a property deal from which he is suspected of having illegally profited, prosecutors said on Thursday.
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 real estate 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 Dubai property market witnessed substantial growth in 2021 after a brief setback in 2020 due to the global pandemic. The V-shaped recovery is evident as the demand and prices of properties in various areas are on the rise.
Data from Dubai Land Department (DLD) showed that the first working Friday witnessed 173 sales transactions worth Dhs2.38 billion, 12 of which were plots of land worth Dhs451.16 million and 161 were apartments and villas worth Dhs1.93 billion.
The Dubai property market is on a solid growth and is marching ahead bucking the global trends. The realty market is active in the recent weeks due to an increase in demand for housing units, in line with the success of Dubai Expo 2020.
Facilio, a leading property operations software platform, has announced that it has been recognised by Frost & Sullivan with the 2021 Best Practices’ Product Leadership Award for the Internet of Things, (IoT)-based solution in the building operations and maintenance industry.
The real estate and properties transactions valued at Dhs6.8 billion in total during the week, according to Dubai Land Department. 330 plots were sold for Dhs1.65 billion, 1,653 apartments and villas were sold for Dhs3.42 billion.
The top three transactions were a land in Palm Jumeirah sold for Dhs 60 million, followed by a land that was sold for Dhs 38.79 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs 60 million in Palm Jumeirah in third place.