$163m weeklong real estate transactions in Dubai

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  • 164 plots sold for AED 819.02 million, 1,030 apartments and villas sold for AED 2.22 billion

  • Total amount of mortgaged properties for the week AED 3 billion

DUBAI: A total of 1,623 real estate and property transactions were valued at AED6 billion ($163m) in total during the week ending 3 June 2021, according to Dubai Land Department (DLD).

The DLD weekly report said 164 plots were sold for AED 819.02 million, 1,030 apartments and villas were sold for AED 2.22 billion.

The top three transactions were a plot of land in Palm Jumeirah that sold for AED 22 million, followed by land that was sold for AED 21 million in Al Mezhar Second, and land that sold for AED 20 million in Palm Jumeirah in third place.

Hadaeq Sheikh Mohammed Bin Rashid recorded the most transactions for this week by 37 sales transactions worth AED 365.47 million, followed by Al Hebiah Fourth with 37 sales transactions worth AED 155.42 million, and Al Hebiah Third with 20 sales transactions worth AED 45 million in third place.

The top three transfers for apartments and villas were an apartment that sold for AED 329 million in Marsa Dubai, another sold for AED 244 million in Palm Jumeirah and at third place was an apartment that sold for AED 197 million in Burj Khalifa.

The sum of the amount of mortgaged properties for the week was AED 3 billion, with the highest being a plot of land in Al Mamzer, mortgaged for AED 750 million.

As many as 57 properties worth AED 369 million were exchanged between first-degree relatives.

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