According to information from the Dubai Land Department (DLD), last week saw 3,103 transactions with a total value of AED 9.7B (USD 2.6B). Among the areas with the majority of registered transactions were Madinat Hind 4, Al Hebiah Fifth and Jebel Ali First with 72, 58 and 24 sales, respectively. Several top deals took place on the artificial archipelagos of Palm Deira and The World Islands.

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Dubai Real Estate Market Saw 3,103 Transactions With a Total Value of AED 9.7B Last Week

PUBLISHED: 21 August 2023

The total number of sold plots, worth AED 2.23B (USD 607M), reached 235. The most expensive plot of land was sold in Al Wasl for AED 369M (USD 100M). Among the other top three land plot transactions were in Trade Centre Second and on Palm Deira, costing AED 276M (USD 75M) and AED 181M (USD 49M), respectively.

In terms of villas and apartments, 2,302 units were sold for AED 5.76B (USD 1.6B). The most expensive transfer for apartments and villas was recorded in The World Islands, where a villa costing AED 79M (USD 22M) was sold. It was followed by another villa in the same location with a price of AED 72M (USD 19.6M) and an apartment in Zabeel First costing AED 60M (USD 16.3M).

In terms of mortgaged properties, the total sum last week reached AED 1.42B (USD 386M) with the most expensive property being a plot of land in Al Barsha South Second, which was mortgaged for AED 260M (USD 70M). Moreover, 93 properties with a total value of AED 337M (USD 92M) were gifted between first-degree relatives.

A residence in Dubai is an ideal investment tool which can bring you a stable income. Among the recently launched projects which have already attracted the attention of buyers, are Elitz 3 by Danube in Jumeirah Village Circle (JVC) from Danube Properties, The Farmhouses in DAMAC Hills 2 and Coral Reef in Dubai Maritime City from DAMAC Properties.

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