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Dubai’s Real Estate Transactions Totaled AED4.5 Billion Over the Course of a Week

Dubai’s Real Estate Transactions Totaled AED4.5 Billion Over the Course of a Week

The Dubai Land Department reported a total of 2,098 real estate transactions worth AED4.5 billion during the week ending February 18, 2022.

A total of 252 plots for AED1.1 billion and 1,437 apartments and villas for AED2.47 billion were sold.

A land in Palm Jumeirah was sold for AED60 million, a land in Hadaeq Sheikh Mohammed Bin Rashid was sold for AED38.79 million, and land in Palm Jumeirah was sold for AED60 million in third place.

Al Hebiah Fifth had the most transactions this week, with 90 sales transactions totaling AED201.51 million, followed by Jabal Ali First with 57 sales transactions totaling AED140.61 million, and Al Hebiah Fourth in third place with 39 sales transactions totaling AED332 million.

Apartments sold for AED500 million in Marsa Dubai, an apartment sold for AED214 million in Al Merkadh, and an apartment sold for AED174 million in Burj Khalifa were the top three transfers for apartments and villas.

The total amount of mortgaged properties for the week was AED955.1 million, with the highest being land in Island 2 mortgaged for AED158 million.

A total of 56 properties worth AED54 million were granted to first-degree relatives.

Source: WAM

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