The first week of July 2023 saw a recap of real estate transactions in Dubai, with a total value of AED 13.6 billion. The transactions reached an impressive 3,244 in number.
Among these transactions, 323 plots were sold, generating a substantial amount of AED 3.33 billion. Additionally, 2,237 apartments and villas were successfully sold, contributing AED 5.37 billion to the overall total.
Noteworthy transactions included the sale of a piece of land in Marsa Dubai for AED 230.14 million, followed by another land in the same area for the same price. In third place, a land in Al Thanayah Fourth was sold for AED 130 million.
In terms of specific areas, Al Hebiah Fifth recorded the highest number of sales transactions with 86, valued at AED 249.21 million. Al Goze Second came in second with 62 sales transactions amounting to AED 713.13 million. Madinat Hind 4 secured the third spot with 49 sales transactions totaling AED 70 million.
Moving on to apartments and villas, the top three transfers included an apartment in Umm Suqeim Third sold for AED 420 million, followed by an apartment in Palm Jumeirah for AED 55 million. Lastly, an apartment in Zaabeel First was sold for AED 46 million.
In terms of mortgaged properties, the total amount reached an impressive AED 3.02 billion for the week. The highest mortgage was observed for a land in Madinat Hind 1, amounting to AED 2 billion.
Finally, the week also saw the granting of 196 properties to first-degree relatives, with a total value of AED 2 billion.