Real Estate Transactions in Dubai Reach AED 12.7 Billion Last Week

The real estate market in UAE has shown remarkable resilience with 2,329 real estate transactions in Dubai totaling over AED 12.7 billion in value during the week concluding on September 15, 2023, as per the latest data released by the Dubai Land Department (DLD).

The DLD's comprehensive report unveils intriguing insights into the city's real estate landscape. Notably, 549 plots changed hands, commanding a substantial AED 4.25 billion, while 1,780 apartments and villas found new owners, amounting to AED 3.94 billion in transactions.

Top Three Deals

Among these transactions, three prominent deals garnered significant attention. A sprawling plot in the coveted Marsa Dubai district was sold for an impressive AED 622.91 million. In Business Bay, another prime plot was snapped up for AED 180 million, followed closely by a third plot in Marsa Dubai, securing a hefty AED 150 million price tag.

Digging deeper into the data, Al Hebiah Fifth emerged as the frontrunner, boasting a whopping 123 transactions valued at AED 527.18 million. Following closely behind, Madinat Al Mataar notched 113 transactions worth AED 542.17 million, while Madinat Hind 4 secured 111 transactions valued at AED 161.9 million.

Apartments and Villas Sales

In the domain of apartments and villas, three noteworthy transfers captured the limelight. An opulent apartment in Al Barsha First commanded a princely sum of AED 88 million. Meanwhile, on the iconic Palm Jumeirah, another luxurious apartment changed hands for a substantial AED 75 million. Lastly, a property in Al Thanayah Fourth was acquired for AED 64.5 million.

The overall value of mortgaged properties during this week reached an impressive AED 3.88 billion, underscoring the robust financial activity within the real estate sector. Additionally, 165 properties were transferred among first-degree relatives, amounting to a total value of AED 670 million.