DUBAI RECORDED OVER US$3 BILLION IN WEEK-LONG TRANSACTIONS

Dubai recorded AED11.3 billion in transactions from October 24-28, according to Dubai Land Department data.

Jebel Ali First recorded the most transactions in terms of land sales, whereas Business Bay recorded the most transactions in terms of apartment and villa sales.

A total of 234 plots were sold for AED2.26 billion, and 1,983 apartments and villas were purchased for AED4.74 billion, Emirates News Agency (WAM) said. The mortgaged properties for the week reached AED2.23 billion, while 97 properties were granted between first-degree relatives worth AED2.25 billion.

“The top three land transactions were land in Palm Jumeirah sold for AED300 million, land sold for AED130 million in Island 2, and land sold for AED86 million in World Islands. Jebel Ali recorded the most transactions for this week with 105 sales transactions worth AED353 million, followed by Mohammed bin Rashid Gardens with 29 sales transactions worth AED634 million, and Al Mamzar with 23 sales transactions worth AED166 million,” WAM said.