The value of real estate transactions in Dubai on the first working Friday following the adoption of the new weekly work system in the emirate exceeded around AED2.53 billion (around $689 million), with 227 real estate transactions.
The total value of real estate transactions recorded in the first week of the new year exceeded AED7.24 billion (around $1.97 billion), with 1,766 transactions.
The first working Friday saw 173 sales transactions worth AED2.38 billion(around $648 billion), in which 12 were plots of land worth AED451.16 million (around $1.22 billion), while 161 were apartments and villas worth AED1.93 billion (around $5.25 billion).
The top three areas which recorded the highest value of land sales transactions on the first working Friday of the year were led by Marsa Dubai, which saw land sales worth AED369 million (around $1 billion).
It was followed by Al Thanya Fifth, which recorded AED28 million (around $7.62 million) worth of land sales, while Palm Jumeirah sold a plot of land for AED17 million (around $4.62 million).
With three sales transactions worth AED6 million ($1.63 million), Jebel Ali First saw the biggest number of transactions on Friday. Palm Jumeirah followed with AED17 million (around $4.62 million) transactions of sale while Warsan First recorded AED4 million (around $1.08 million) worth of sales transaction.
Jebel Ali First has registered the most villa and apartment sales transactions on the first working Friday of 2022 worth AED18 million (around $5 million), while Business Bay saw 21 sales transactions worth AED25 million (around $6.80 million) followed by Al Barsha South Fourth with worth AED16 million (around 4.35 million) of sales transactions.
AED125.03 million (around $34 million) was the total value of mortgage transactions, including nine transactions for land worth AED47.88 (around $13 million), and 40 transactions for villas and apartments worth AED 77.15 million (around $21 million).
Al Thanyah Fourth registered the biggest mortgage transaction worth of AED37 million (around $10 million), which was followed by a Nad Al Sheba Third mortgage transaction worth of AED11 million (around $2.99 million).
First-degree relatives were granted five properties worth AED19.16 million (around $521 million) in which Al Merkadh registered the biggest value of AED12 million (around 3.26 million).
That was followed by a Jebel Ali First property worth of AED3 million (around $816 million).