Dubai recorded a total of 2,739 transactions with a combined value of AED8.4 billion ($2.3 billion) during the week ending Aug. 26, the Dubai Land Department (DLD) said.
The transactions included the sale of 274 plots for AED1.36 billion and 1,902 apartments and villas for AED4.35 billion.
The biggest deal recorded was the sale of a plot of land in Business Bay for AED110 million, followed by a piece of land in Wadi Al Safa 2 that went for AED38.75 million.
Al Hebiah Fifth topped the number of transactions with 100 sales transactions worth AED284.4 million, followed by Jabal Ali First with 76 sales transactions valued at AED254.28 million and Al Merkadh with 21 sales transactions worth AED152 million.
The value of mortgaged properties for the week reached AED1.67 billion.
Dubai real estate market recorded a total of 7,092 transactions in July 2022, which is its best performance in the past decade, said Mo’asher, the emirate’s official Sales Price and Rental Performance index.
Mo’asher said the figure demonstrates a significant increase in the overall performance of the sales transaction volume by 63.56 percent and 88.41 in terms of value year on year.
The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.
July 2022 sales transactions overtook July transaction’s peak in 2013 which recorded 5,024 deals.
The secondary market recorded the largest transactions, up by 59 percent in terms of volume and 70.60 percent in terms of value.