Looking for a recap of the weekly real estate transactions for the week? Dubai saw a massive surge in real estate and property transactions, reaching a staggering AED 9.9 billion by the end of July 20, 2023. In total, there were 3,030 transactions, demonstrating the thriving market activity.
Out of these transactions, 378 plots were successfully sold, generating a revenue of AED 3 billion. Additionally, 2,124 apartments and villas found buyers, contributing an impressive AED 5.13 billion to the overall transaction value.
The highlight of the week was the sale of prime lands. Wadi Al Safa 7 took the top spot, with a land selling for a staggering AED 285 million. Following closely behind was a land in Al Goze Second that changed hands for AED 68.34 million, while another land in Al Goze Second secured third place with a sale price of AED 66.54 million.
In terms of transaction volume, Al Hebiah Fifth emerged as the leader with 133 sales transactions valued at AED 362.59 million. Al Goze Second secured second place with 67 sales transactions amounting to AED 1.35 billion. Lastly, Madinat Hind 4 secured third place with 49 sales transactions worth AED 73 million.
When it comes to apartments and villas, the top three transfers included a property in Business Bay that sold for an impressive AED 175 million. Another property in Al Nahda First followed closely behind, fetching AED 97 million. Lastly, a property in Al Nahda Second secured third place with a remarkable sale price of AED 90 million.
Mortgaged properties for the week amounted to a substantial AED 1.53 billion, with the highest-valued property being a land in Saih Shuaib 2, mortgaged for AED 204 million.
Furthermore, there were a total of 63 properties granted to first-degree relatives, with a cumulative value of AED 265 million.