In the week ending on November 10, 2023, Dubai witnessed a remarkable surge in real estate and property transactions, recording a staggering total of 10.3 billion AED. Throughout this period, a significant number of 1,782 transactions were successfully carried out.
Out of these transactions, an impressive 396 plots were sold for a whopping 3.99 billion AED, while 1,386 apartments and villas were purchased, amounting to a total of 3.41 billion AED.
Taking a closer look at the most noteworthy transactions, the top three involved land properties. The first-place transaction was a piece of land in Me’Aisem Second, sold at an astonishing value of 123.66 million AED. Following closely behind, another land property in Al Safouh Second was sold for 97 million AED, securing the second position.
Lastly, a land property in Wadi Al Safa 2 was sold for 88.25 million AED, securing the third position. Interestingly, Wadi Al Safa 2 witnessed the highest number of transactions during this week, with an impressive count of 79 sales transactions, accumulating a total value of 535.96 million AED. Palm Jabal Ali came in second place with 73 sales transactions worth 1.62 billion AED, while Me’Aisem Second secured third place with 61 sales transactions totaling 740.77 million AED.
Shifting our focus to apartments and villas, the top three transfers consisted of a property in Marsa Dubai, sold at an astounding price of 360 million AED, followed by another property in Palm Jumeirah, which fetched 53 million AED. In third place, a villa in Me’Aisem First was successfully sold for 42.8 million AED.
Furthermore, mortgaged properties also played a significant role in the real estate market during this week, reaching an impressive total value of 1.86 billion AED. The highest-valued mortgaged property was a land property in Nad Al Hamar, securing a mortgage of 264.14 million AED.
Lastly, there were 142 properties granted to first-degree relatives, amounting to a combined value of 1 billion AED.