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Dubai records US$1.1 billion worth of property transactions in a week

May 21, 2021

Dubai, UAE: The total value of 1,562 real estate transactions reached US1.1 billion (Dh4.1 billion) in Dubai in a week starting May 16-May 20, 2021, according to Dubai Land Department, land and property registry of the Government of Dubai.

As many as 120 plots were sold for Dh874.43 million, 1,038 apartments and villas were sold for Dh2.03 billion.

The top three transactions were a land in Al Barsha South Fourth sold for Dh52.5 million, followed by a land that was sold for Dh20 million in Al Thanayah Fourth, and a land sold for Dh52.5 million in Al Barsha South Fourth in third place. Al Hebiah Fourth recorded the most transactions for this week by 33 sales transactions worth Dh139.42 million, followed by Al Hebiah Third with 24 sales transactions worth Dh117.74 million, and Hadaeq Sheikh Mohammed Bin Rashid with 18 sales transactions worth Dh129 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dh379 million in Marsa Dubai, an apartment was second in the list sold for Dh198 million in Palm Jumeirah, and thirdly it was a villa sold for Dh136 million in Hadaeq Sheikh Mohammed Bin Rashid.

The sum of the amount of mortgaged properties for the week was 1 billion, with the highest being a land in Jabal Ali Industrial First, mortgaged for Dh132 million. Around 29 properties were granted between first-degree relatives worth Dh83 million.