Under the scrutiny of the Dubai Land Department, over 1,800 real estate transactions were meticulously documented throughout the course of this week, as reported by Arabian Business.
As per Dubai Land Department data, Dubai witnessed a flurry of real estate and property transactions amounting to AED 8.3 billion ($2.4 billion) this week. Arabian Business stated that in the week concluding on December 1, a total of 1,802 transactions were recorded. Among these transactions, 422 plots were sold, generating AED 2.94 billion ($801 million), while 1,380 apartments and villas changed hands for a combined AED 3.23 billion ($880 million).
Dubai real estate this week
The top three land transactions for the week were observed in Hadaeq Sheikh Mohammed Bin Rashid, where a plot was sold for AED 125 million ($34 million), followed by a land sale in Al Barsha South Fourth for AED 73.5 million ($20 million), and another plot sold for AED 70 million ($19 million) in Palm Jumeirah.
According to Arabian Business, Wadi Al Safa 2 led the pack in terms of transaction volume this week, with 126 sales transactions totaling AED 124.44 million ($34 million). It was followed by Madinat Al Mataar, recording 96 sales transactions valued at AED 185.01 million ($50 million), and Palm Jebel Ali, which saw 48 sales transactions amounting to AED 1.31 billion ($357 million).
The top three transfers for apartments and villas included a property transaction worth AED 275 million ($75 million) in Al Qusais Industrial Second, followed by an apartment sale valued at AED 60 million ($16 million) in Island 2, and a home transaction totaling AED 59 million ($16 million) in Um Suqeim First. As mentioned by Arabian Business, the total value of mortgaged properties for the week amounted to AED 1.39 billion ($379 million), with the highest mortgage observed on land in Palm Jumeirah, amounting to AED 149.75 million ($41 million). Additionally, 156 properties were granted between first-degree relatives, reaching a total value of AED 738 million ($201 million).
