Dubai records $1.2 billion realty deals

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  • The highest number (21) of sales worth AED 59.14 million were recorded in Nad Al Shiba Third.
  • AED 2 billion wroth of properties were mortgaged, the highest being a plot of land in Al Hebiah First, mortgaged for AED 333 million.

DUBAI:  A total of 1,188 real estate and property transactions valued at AED 4.7 billion ($1.2 billion) during the week ending 11 August were recorded by the Dubai Land Department (DLD).

The weekly DLD report said 116 plots were sold for AED 654 million and 1,072 apartments and villas were sold for AED 2.28 billion.

A plot of land that sold for AED 56 million in Island 2, followed by a plot for AED 30.62 million in Hadaeq Sheikh Mohammed Bin Rashid, and plot for AED 56 million in Island 2 were the three top land deals.

The highest number (21) of sales worth AED 59.14 million were recorded in Nad Al Shiba Third, followed by Jabal Ali First with 19 sales transactions worth AED 56.38 million and Hadaeq Sheikh Mohammed Bin Rashid with 15 sales transactions worth AED 218 million.

The top three transfers for apartments and villas were an apartment that went for AED 279 million in Marsa Dubai, a villa for AED 228 million in Wadi Al Safa 5, and an apartment for AED 164 million in Um Suqaim Third.

The sum of the amount of mortgaged properties for the week was 2 billion, with the highest being a plot of land in Al Hebiah First, mortgaged for AED 333 million. A total of 47 properties were granted between first-degree relatives worth AED 107 million.

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