Dubai’s real estate market recorded 246 sales transactions worth AED610.89 million ($166 million) and mortgage deals of AED151.82 million in addition to 10 gift transactions amounting to AED17.58 million Monday, data released by the emirate’s Land Department (DLD) showed.
Local media reports said the sales covered 223 villas and apartments worth AED 503.64 million, and 23 land plots worth AED107.25 million, while the mortgages included 38 villas and apartments worth AED110.84 million and 18 land plots valued at AED40.99 million, bringing the total realty transactions of today to AED780 million.
Villa segment was expected to drive strong growth in the Dubai real estate sector during the fourth quarter as consumer and investor sentiments were up ahead of Expo 2020 Dubai, according to Zoom Property Insights (ZPI).
The Dubai-based real estate portal had said the demand for villas was expected to surge in the areas closer to the six-month-long exhibition site.
According to the ZPI, transactions for 1,400 villas worth AED3.1 billion and 2,284 villas worth AED5.4 billion were recorded in Q1 and Q2, respectively.