Recap of Weekly Dubai Real Estate Transactions: Week Ending 04 August 2023

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Recap of Weekly Real Estate Transactions

Dubai witnessed a remarkable week in the real estate market, with a total value of AED 9.7 billion in transactions. A total of 3,112 transactions took place, including the sale of 248 plots for AED 1.52 billion and 2,132 apartments and villas for AED 4.9 billion.

 

The top three transactions were dominated by land deals. Palm Jumeirah stole the spotlight by selling land for an impressive AED 190 million. Hadaeq Sheikh Mohammed Bin Rashid followed closely with a land sale of AED 111 million, and Island 2 secured the third spot with a land transaction worth AED 70 million.

Madinat Hind 4 emerged as the hotspot for real estate activity, recording an impressive 104 sales transactions worth AED 153.19 million. Al Hebiah Fifth ranked second, boasting 23 sales transactions valued at AED 72.62 million, while Wadi Al Safa 3 secured the third position with 18 sales transactions totaling AED 165 million.

 

Moving on to apartments and villas, Al Barsha South Second stole the limelight with a sale worth AED 81 million, closely followed by Island 2 with a transaction of AED 75 million. Al Thanyah Fourth secured the third position with a sale amounting to AED 70 million.

In terms of mortgages, the week saw a total value of AED 2.91 billion. The highest mortgage recorded was for a land in Jebel Ali Industrial Second, amounting to AED 511 million.

 

Lastly, 79 properties were granted to first-degree relatives, valued at AED 452 million.

 

Last  week’s real estate transactions in Dubai truly showcased the thriving market and the significant investments made in the city.

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