Dubai, UAE — A total of 3,105 real estate transactions worth AED9.1 billion ($2.47 billion) were conducted in Dubai during the week ending 19 May 2023, according to figures released by the Dubai Land Department (DLD).
The DLD report showed that 191 plots were sold for AED1.14 billion, and 2,284 apartments and villas were sold for AED6.03 billion.
The top three transactions included a land in Island 2 sold for AED135 million, followed by a land sold for AED50 million in Business Bay, and another land sold for AED50 million in Hadaeq Sheikh Mohammed Bin Rashid.
Al Hebiah Fifth recorded the top transactions for this week with 54 sales worth AED185.13 million, followed by MADINAT HIND 4 with 34 sales worth AED50.26 million, and Al Hebiah Third with 14 sales worth AED53 million.
The top three transfers for apartments and villas included an apartment sold for AED122 million in Island 2, another apartment sold for AED105 million in Palm Jumeirah, and a villa sold for AED74 million in World Islands.
The sum of mortgaged properties for the week was AED1.68 billion, with the highest being a land in Business Bay, mortgaged for AED350 million.
About 77 properties worth AED 264 million were transferred between first-degree relatives.