Staff Report
Dubai
The total value of land and real estate transactions exceeded Dh10.7 billion in a week during the week ending 31 March 2023. The total number of transactions reached 3,035 in the week, according to Dubai Land Department.
As many as 158 plots were sold for Dh1.27 billion while the sale transaction value of 2,261 apartments and villas reached Dh5.11 billion.
The top three transactions were a land in Al Khairan First sold for Dh157.08 million, followed by a land that was sold for Dh67 million in Island 2, and a land sold for Dh157.08 million in Al Khairan First in third place. Al Hebiah Fifth recorded the most transactions for this week by 52 sales transactions worth Dh165 million, followed by Madinat Hind 4 with 21 sales transactions worth Dh26.78 million, and Jabal Ali First with 14 sales transactions worth Dh60 million in third place.
The top three transfers for apartments and villas were a villa was sold for Dh82 million in Palm Jumeirah, an apartment was second in the list sold for Dh57 million in Palm Jumeirah, and thirdly it was an apartment sold for Dh55 million in Palm Jumeirah.
The sum of the amount of mortgaged properties for the week was Dh3.8 billion, with the highest being a land in Port Saeed, mortgaged for Dh624 million. As many as 123 properties were granted between first-degree relatives worth Dh597 million, Dubai Land Department said.
