Dubai real estate sector sees $2.4bn of transactions this week, including huge $41m mortgage in Palm Jumeirah – Arabian Business

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Dubai saw real estate and property transactions valued at AED8.3bn ($2.4bn this week, according to Dubai Land Department data.

In the week ending December 1 there were 1,802 transactions.

Buy/sell, rent/lease residential &
commercials real estate properties.

In total 422 plots were sold for AED2.94bn ($801m) and 1,380 apartments and villas sold for AED3.23bn ($880m).

Dubai real estate this week

The top three transactions for land were a plot in Hadaeq Sheikh Mohammed Bin Rashid sold for AED125m ($34m), land sold for AED73.5m ($20m) in Al Barsha South Fourth, and a plot sold for AED70m ($19m) in Palm Jumeirah.

Wadi Al Safa 2 recorded the most transactions this week, with 126 sales transactions worth AED124.44m ($34m), followed by Madinat Al Mataar with 96 sales transactions worth AED185.01m ($50m), and Palm Jebel Ali with 48 sales transactions worth AED1.31b ($357m).

The top three transfers for apartments and villas were a property sold for AED275m ($75m) in Al Qusais Industrial Second, an apartment sold for AED60m ($16m) in Island 2, and a home sold for AED59m ($16m) in Um Suqeim First.

The sum of the amount of mortgaged properties for the week was AED1.39bn ($379m), with the highest being land in Palm Jumeirah, mortgaged for AED149.75m ($41m).

156 properties were granted between first-degree relatives worth AED738m ($201m).

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