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Dubai real estate transactions touch Dh2.7 billion last week

October 18, 2020

Dubai, UAE

The total value of 1,014 real estate transactions in Dubai reached Dh2.7 billion in the last week ending 15 October 2020, according to Dubai Land Department.

Among these, 38 plots were sold for Dh204.99 million, 654 apartments and villas were sold for Dh1.36 billion.

The top three transactions were a land in Saih Shuaib 4 sold for Dh52.51 million, followed by a land that was sold for Dh15.5 million in Al Merkadh, and a land sold for Dh52.51 million in Saih Shuaib 4 in third place.

Nad Al Shiba Third recorded the most transactions for this week by 7 sales transactions worth Dh17.59 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 5 sales transactions worth Dh23.87 million, and Al Merkadh with 4 sales transactions worth Dh51 million in third place, Dubai Land Department said in a report.

The top three transfers for apartments and villas were an apartment was sold for Dh161 million in Palm Jumeirah, an apartment was second in the list sold for Dh138 million in Marsa Dubai, and thirdly it was a villa sold for Dh102 million in Al Hebiah Fourth.

The sum of the amount of mortgaged properties for the week was Dh850 million, with the highest being a land in Marsa Dubai, mortgaged for Dh268 million.

Among them, 59 properties were granted between first-degree relatives worth Dh288 million. First-degree relatives comprise an individual’s parents, siblings, children, or a fully owned company by an individual.