Staff Report
Dubai, UAE
The total value of real estate transactions exceeded Dh11.6 billion in a week ending April 14, 2023, according to Dubai Land Department, the property registration and land regulatory body of Dubai Government.
This translates to an average daily property transaction worth Dh2.32 billion for a five-day working period.
The sum of transactions was 2,246 during the week. Of these, 226 plots were sold for Dh5.76 billion, while 2,019 apartments and villas were sold for Dh4.42 billion, the weekly Land Transaction report issued by Dubai Land Department said.
The top three transactions were led by a land in Mugatrah that was sold for Dh3.87 billion, followed by a land that was sold for Dh630.8 million in Al Layan1, and a land sold for Dh91 million in Al Barsha South Fourth in third place.
Al Hebiah Fifth recorded the most transactions for this week by 74 sales transactions worth Dh198.41 million, followed by Madinat Hind 4 with 34 sales transactions worth Dh44.36 million, and Al Hebiah Fourth with 27 sales transactions worth Dh251 million in third place.
The top three transfers for apartments and villas were a was sold for Dh76 million in Palm Jumeirah, an apartment was second in the list sold for Dh58 million in Palm Jumeirah, and thirdly it was a sold for Dh50 million in Palm Jumeirah.
The sum of the amount of mortgaged properties for the week was Dh1.31 billion, with the highest being a land in Al Thanayah Fourth, mortgaged for Dh91 million. As many as 68 properties were granted between first-degree relatives worth Dh144 million.
