Staff Report,
Dubai, UAE
The total value of land and property transactions in Dubai reached Dh9.7 billion (US$2.64 billion) during the week ending August 4, 2023, with the number of total transactions reaching 3,112, according to the Dubai Land Department.
Last week’s land and property transaction value in Dubai declined by Dh900 million from Dh10.6 billion recorded in the previous week ending July 28, 2023, due to summer holiday season, when most people usually enjoy holidays.
Of those 248 plots were sold for Dh1.52 billion, 2,132 apartments and villas were sold for Dh4.9 billion.
The top three transactions were a land in Palm Jumeirah sold for Dh190 million, followed by a land that was sold for Dh111 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dh70 million in Islands 2 in third place.
Madinat Hind 4 recorded the most transactions for this week by 104 sales transactions worth Dh153.19 million, followed by Al Hebiah Fifth with 23 sales transactions worth Dh72.62 million, and Wadi Al Safa 3 with 18 sales transactions worth Dh165 million in third place.
The top three transfers for apartments and villas were a was sold for Dh81 million in Al Barshaa South Second, a was second in the list sold for Dh75 million in Island 2, and thirdly it was a sold for Dh70 million in Al Thanayah Fourth.
The sum of the amount of mortgaged properties for the week was 2.91 billion, with the highest being a land in Jabal Ali Industrial Second, mortgaged for Dh511 million.
As many as 79 properties were granted between first-degree relatives worth Dh452 million.
Ends
