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Transaction
According to data from the land department, the real estate sector in Dubai witnessed transactions amounting to AED13.8 billion ($3.75 billion) this week.

Out of a total of 3,626 transactions, 618 plots were sold for AED6.19 billion ($1.7 billion), and 2,410 apartments and villas were sold for AED5.63 billion ($1.5 billion).

The top three land transactions were as follows: a plot in Al Goze Second sold for AED68.12 million ($18.5 million) took the first position, followed by land in Al Goze Second sold for AED67.92 million ($18.5 million) in second place, and land in Al Goze Second sold for AED67.56 million ($18.4 million) in third place.

In terms of transaction volume, Al Goze Second had the highest number of transactions for the week, with 271 sales transactions totaling AED4.4 billion ($1.2 billion). This was followed by Al Hebiah Fifth with 142 sales transactions worth AED384.78 million ($105 million) and Madinat Hind 4 with 45 sales transactions worth AED60 million ($16.3 million) in third place.

The most expensive property sold in the category of apartments or villas this week was a home in Palm Jumeirah, which fetched AED116 million ($31.6 million). This was followed by a property sold for AED74 million ($20.1 million) in Madinat Dubai Almelaheyah and an apartment sold for AED71 million ($19.3 million) in Palm Jumeirah.

The total value of mortgaged properties for the week amounted to AED1.53 billion ($417 million), with the highest being a land in Nad Al Shiba Third, mortgaged for AED229 million ($62 million).

Furthermore, 96 properties were granted between first-degree relatives, with a combined worth of AED426 million ($116 million).

SOURCE FROM ARABIANBUSINESS




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