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Real estate transactions value reaches Dh3.89 billion in Dubai in a week

October 3, 2020

Dubai, UAE

The total value of real estate transactions in Dubai reached Dh3.89 billion in a week ending October 1 2020, according to Dubai Land Department.

The number of transactions reached 1,732 from Sunday to Thursday. This includes 182 plots sold for Dh1.21 billion and 1,140 apartments and villas sold for a total value of Dh1.56 billion.

Among the land deals, the top three transactions include one in Marsa Dubai sold for Dh250.2 million, followed by a piece of land sold for Dh45.04 million in Al Hebiah First, and another piece of land worth Dh250.2 million in Marsa Dubai.

Al Hebiah Third recorded the most transactions for the week with 19 sales transactions worth Dh48.17 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 15 sales transactions worth Dh104.89 million, and Al Thanayah Fourth with 13 sales transactions worth Dh123 million.

The top three deals for apartments and villas were an apartment was sold for Dh221 million in Burj Khalifa, an apartment was second in the list sold for Dh199 million in Al Merkadh, and an apartment sold for Dh182 million in Al Khairan First.

The value of mortgaged properties for the week was 843 million, with the highest being a land in Al Barshaa South Second, mortgaged for Dh29 million.

A total of 99 properties were granted between first-degree relatives worth Dh281 million.

An earlier report showed that in July 2020, DLD recorded a total of 2,404 sales transactions worth Dh4.69 billion, with 29.6 per cent in the off-plan segment and 70.4 per cent in the secondary segment. This brings the year-to-year total to 18,168 sales transactions worth Dh36.99 billion.