3,397 real estate and property transactions of AED 11.5 billion were performed during the week ending March 3, 2023, according to data released by Dubai’s Land Department. (DLD).
In contrast to 228 plots, which sold for AED 2.59 billion, 2,498 apartments and villas were sold for AED 5.54 billion, according to the DLD weekly report.
Al Wasl had the highest land sales, totaling AED 397 million, while Business Bay came in second with AED 168 million. With 71 transactions totaling AED 194 million, Al-Habibiyah Fifth had the most activity. Wadi Al-Safa 3 came in second with 22 sales transactions totaling AED 387 million, and Jebel Ali First had 18 transactions totaling AED 57 million. real estate
In Business Bay, an apartment and villa valued at AED 208 million were sold. Sales of 111 million AED and 100 million AED respectively in Island 2 and Al Qusais First followed. With 303 sales totaling AED 231 million, Al Barsha South 4 had the most apartment and villa sales, followed by Wadi Al-Safa 5 with 288 sales totaling AED 589 million and Dubai Marina with 192 sales totaling AED 633 million.
There were 369 mortgages totaling AED 2.04 billion for villas and flats, and 72 mortgages for land totaling AED 629.43 million.
The report also revealed that 230 homes valued AED 722.97 million were gifted between first-degree relatives.