AED 8 billion worth of real estate is transacted each week in Dubai

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For the week ending October 21, 2022, 2,703 real estate transactions totaling AED8 billion were reported by the Dubai Land Department (DLD).

147 plots were sold for AED1.12 billion, while 2,023 apartments and villas cost AED4.79 billion.

The highest deals involved two pieces of land: one sold for AED63 million on Island 2 and another for AED85 million in Al Thanayah.

The most transactions this week were made by Jabal Ali First (48 purchases for AED151.59 million), followed by Hadaeq Sheikh Mohammed Bin Rashid (18 sales for AED421.33 million), and Al Yufrah 2. (11 sales worth AED13 million). (real estate)

AED671 million was paid for one apartment in Marsa Dubai, AED955 million for one in Palm Jumeirah, and AED537 million for another in Business Bay. The top three transfers for apartments and villas were those three.

The Palm Jumeirah site, mortgaged for AED416 million, accounted for the largest portion of the week’s overall mortgaged property worth of AED1.72 billion. 107 properties worth AED387 million were transferred to first-degree relatives in the interim.

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