Dubai records real estate transactions worth over Dhs8.1bn for the week

A total of 2,574 real estate transactions worth over Dhs8.1bn was registered during the week ending January 13, according to figures released by the Dubai Land Department (DLD).

The DLD data showed that 221 plots were sold for Dhs1.18bn, while 1,889 apartment and villa purchases worth Dhs4.93bn were made, reported the state news agency WAM.

The top three transactions included a plot in Jabal Ali First, which sold for Dhs46.1m; followed by a plot in Wadi Al Safa 4, which sold for Dhs45.01m; and plot in Al Thanyah Fourth that sold for Dhs39m.

Al Hebiah Fifth came in first for the most transactions for this week recording 112 sales transactions worth Dhs433.61m, followed by Al Jadaf with 25 sales transactions worth Dhs57.53m, and Jabal Ali First with 21 sales transactions worth Dhs115m.

The top three transfers for apartments and villas included an apartment sold for Dhs125m in Al Raffa, one sold for Dhs120m in Al Jadaf, and another sold for Dhs116m in Island 2, WAM reported.

The value of mortgaged properties for the week reached 1.51 billion, while properties granted between first-degree relatives totalled 92 at a value of Dhs498m.

Last week (ending January 6), DLD recorded real estate and property transactions valued at Dhs10bn.

Read: Dubai records real estate transactions valued at Dhs10bn during the week