Dubai: Sheikh Mohammed bin Rashid Gardens land sale hits 120 million AED
In Dubai, today marked a significant event in the real estate sector with the registration of a land sale deal in the coveted Sheikh Mohammed bin Rashid Gardens area, valued at an impressive 120 million dirhams.
According to data sourced from the Land Department, the land parcel spans an expansive area of approximately 37,867 square feet, with each square foot commanding a rate of 3,168 dirhams.
Overall, real estate transactions for the day totaled 408, amassing a staggering value of 1.21 billion dirhams. These transactions encompassed a diverse range of properties, including 335 residential units, 29 buildings, and 44 plots of land. The robust real estate activity in Dubai is further underscored by the cumulative figures recorded since the beginning of February. During this period, real estate sales have surpassed the impressive milestone of 30 billion dirhams, comprising a total of 9,990 transactions.
Breaking down these transactions, a substantial portion (8,246, to be exact) pertained to the sale of residential units. Additionally, 788 transactions involved buildings, while 956 transactions were related to land plots. The buoyant real estate market in Dubai reflects the ongoing appeal of the emirate as a prime investment destination, attracting both local and international investors seeking lucrative opportunities in property ownership.
Particularly noteworthy as a desirable region for real estate investments is the Sheikh Mohammed bin Rashid Gardens neighbourhood, which is distinguished by its advantageous location and significant potential for capital growth. Dubai is firmly establishing itself as the primary centre for real estate development and investment in the area, as seen by the continuous flow of transactions and strong market activity.
Overall, the latest land sale deal in the Sheikh Mohammed bin Rashid Gardens area, along with the broader spectrum of real estate transactions, underscores the resilience and dynamism of Dubai's real estate market, signalling promising prospects for continued growth and investment opportunities in the future.
