Dubai, UAE — A total of 3,252 real estate transactions worth over AED 10.6 billion ($2.88 billion) were conducted during the week ending 28th July, 2023, according to figures released by the Dubai Land Department (DLD).
The DLD report showed that 319 plots were sold for AED 1.92 billion, while 2,137 apartments and villas were purchased for AED 5.75 billion.
The top three transactions were a land in Palm Jumeirah sold for AED 150 million, followed by a land in Al Hebiah Fourth sold for AED 90.19 million, and a land in Saih Shuaib 4 sold for AED 58.01 million.
Madinat Hind 4 recorded the most sales transactions for this week with 96 transactions worth AED 133.39 million, followed by Al Hebiah Fifth with 69 sales transactions worth AED 187.68 million, and Wadi Al Safa 3 with 60 sales transactions worth AED 476 million.
The top three apartment and villa transfers included one in Marsa Dubai for AED 265 million, another in Al Goze First worth AED 207 million, and a villa in World Islands worth AED 68 million.
The total value of mortgaged properties for the week reached AED 2.53 billion. Meanwhile, 283 properties were granted between first-degree relatives worth AED 495 million.
Dubai’s real estate market has recorded its highest semi-annual sales figures ever, with 61,000 deals worth AED 179.34 billion ($47.8 billion) taking place in the first half of 2023, according to W Capital Real Estate Brokerage.
CEO of W Capital, Al Zarooni, said the growth rate in terms of sales value amounted to 57 percent on an annual basis during the first six months of 2023, compared to AED 114.5 billion in the previous year, and in terms of the number of deals by about 42 percent, compared to 42,971 deals last year.