In the week ending October 27, 2023, Dubai witnessed a significant surge in real estate transactions, reaching a total of 1,761 transactions, with a combined value of AED 23.38 billion. These transactions included the sale of 265 plots, generating AED 2.84 billion, and the sale of 1,496 apartments and villas, amounting to AED 3.71 billion.
The most notable transactions during this period involved the sale of various lands. A land in Al Yufrah 1 fetched AED 74.78 million, securing the top spot, followed by a land in Al Hebiah Fourth, which sold for AED 64.88 million. Additionally, a land in Al Goze Second changed hands for AED 61.92 million, making it the third highest transaction in terms of value.
Among the areas in Dubai, Al Hebiah Fifth witnessed the highest number of transactions, closely followed by Madinat Hind 4 and Palm Jabal Ali. These areas were particularly active in the real estate market during the mentioned week.
When it comes to apartment and villa transfers, the most noteworthy transactions included the sale of a building in Marsa Dubai for AED 133.61 million, an apartment in Palm Jumeirah for AED 63.92 million, and another apartment in Palm Jumeirah for AED 53.7 million. These transfers highlight the demand for properties in these areas.
Lastly, the highest valued mortgaged property was a land in Jabal Ali Industrial First, with an estimated worth of AED 13.79 billion. This property exemplified the substantial investments made in the real estate market during the week.
In conclusion, the week ending October 27, 2023, witnessed an active real estate market in Dubai, with numerous transactions and notable property values.