Dubai real estate achieves 12.9 AED billion in weekly transactions

Real estate transactions in the Dubai Land Department surged to an impressive 12.9 billion dirhams, marking a dynamic week with 3,888 recorded sales amounting to 10.68 billion dirhams.

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Notable land and property sales were among them, demonstrating the tenacity and vitality of the real estate industry.

Land Sales Highlights

In a standout performance, the Palm Jumeirah area led with land sales totaling 940 million dirhams, trailed by significant sales in Saih Shuaib 4 (169.48 million dirhams) and Dubai Maritime City (102 million dirhams). The Wadi Al Safa 2 region dominated in terms of the number of land sales, recording 123 transactions worth 141.81 million dirhams.

Apartment and Villa Sales Insights

With a sale of 500 million dirhams, the Palm Jumeirah took first place in the apartment and villa market. The second-place commercial centre area came in second with 305 million dirhams, while the fourth-place Al Thanyah area came in fourth with 66 million dirhams. Al Barsha South Fourth ranked as the top-selling region for villas and apartments, with 340 sales that brought in 303.57 million dirhams.

Mortgages and donations

Mortgages in the week reached 1.77 billion dirhams, encompassing 79 land mortgages (364.35 million dirhams) and 525 mortgages on villas and apartments (1.4 billion dirhams). Notable donations amounted to 236, with significant contributions in Al Qusais 5th Industrial Area (73.31 million dirhams) and Al Thanyah 4 (58.37 million dirhams).

Today's Transactions

Today's transactions maintained momentum at 1.5 billion dirhams, with 406 sales totaling 1.32 billion dirhams. Key land sales included Dubai Maritime City (102 million dirhams), Al Habiyah Fourth (32.61 million dirhams), and another in Al Habiyah Fourth (26 million dirhams). The Dubai Marina area stood out in apartment and villa sales, recording 50 transactions worth 378.1 million dirhams.

Financial Highlights

Mortgages for the day reached 166.76 million dirhams, encompassing 7 land mortgages (53.87 million dirhams) and 63 mortgages on villas and apartments (112.89 million dirhams). Notable donations amounted to 11, with significant contributions in Al Thanyah 3 (10.21 million dirhams) and Wadi Al Safa 6 (4.5 million dirhams).

This robust activity underscores the sustained vitality of Dubai's real estate market, with diverse transactions contributing to the overall economic resilience of the region.

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