MASSIVE week for Dubai real estate sees $4.5bn of transactions, including enormous $197m Palm Jumeirah property
The Dubai real estate sector is ending the year on a high with high volume and value of transactions this week
Image: Reuters
In the week ending December 22 there were 3,785 transactions.
216 plots were sold for AED4.91bn ($1.3bn) and 2,729 apartments and villas sold for AED7.49bn ($2bn).
Dubai real estate this week
The top three transactions for land were a property in Al Yelayiss 5 sold for AED2.43bn ($662m), followed by land sold for AED64.09m ($17.5m) in Al Hebiah Fourth, and land sold for AED57.67m ($15.7m) in Al Goze Second in third place.
Palm Jebel Ali recorded the most transactions this week with 35 sales transactions worth AED850.21m ($231.6m), followed by Madinat Hind 4 with 29 sales transactions worth AED52.87m ($14.4m), and Al Hebiah Fifth with 18 sales transactions worth AED58.5m ($15.9m) in third place.
The top transfers for apartments and villas were a property sold for AED720m ($197m) in Palm Jumeirah, a home sold for AED92m ($25m) in Dubai Investment Park First, and an apartment sold for AED62.1m ($16.9m) in Island 2.
The sum of the amount of mortgaged properties for the week was AED2.29bn ($624m), with the highest being a land in Al Safouh Second, mortgaged for AED509.2m ($138.6m).
257 properties were granted between first-degree relatives worth AED2bn ($545m).
Date: 2024-01-09
