Dubai records Dh9.4 bn in weekly property transactions

According to figures released by the Dubai Land Department (DLD) on Friday, a total of 3,112 real estate and property transactions, valued at Dh9.4 billion, were conducted during the week ending May 12.

The DLD weekly real estate report noted that 170 plots were sold for Dh1.89 billion, while 2,261 apartments and villas were sold for Dh5.34 billion.

Al Hebiah Fifth recorded the most transactions for the week, with 57 sales transactions worth Dh139.49 million. Madinat Hind 4 followed in second place with 23 sales transactions amounting to Dh29.24 million, and Al Hebiah Third, with 13 sales transactions worth Dh56 million, came in third place.

The top three transactions were a land in Al Sufouh 2 that was sold for Dh300 million; followed by a land in Saih Shuaib 4 sold for Dh148.25 million; and a land in Jumeirah Island 2, sold for Dh128 million.

The top three transfers for apartments and villas were an apartment sold for Dh150 million in Burj Khalifa, followed by another apartment sold for Dh60 million in Palm Jumeirah. In third place was a property sold for Dh53 million in Umm Suqeim 2.

The total amount of mortgaged properties for the week was Dh1.89 billion, with the highest being a land in Al Karama mortgaged for Dh234 million. A total of 144 properties were granted between first-degree relatives, worth Dh273 million.