Dubai’s real estate market had a thriving week, culminating on August 11, 2023, with transactions valued at AED 9.7 billion. A total of 3,103 transactions took place during this period.
Among these transactions, an astounding AED 2.23 billion was spent on the sale of 235 plots, while AED 5.76 billion went towards the purchase of 2,302 apartments and villas.
Highlighted transactions include the sale of a land parcel in Al Wasl for AED 368.74 million, followed by another land sale in Trade Center Second for AED 276 million. In third place, a piece of land in Palm Deira changed hands for AED 181.21 million.
Madinat Hind 4 secured the most sales transactions with 72, amounting to AED 103.41 million. Close behind was Al Hebiah Fifth, with 58 sales transactions worth AED 232.65 million. Jabal Ali First claimed the third spot, with 24 sales transactions totaling AED 92 million.
Regarding apartments and villas, the highest-priced villa sold for AED 79 million in World Islands, followed by another villa in World Islands selling for AED 72 million. Lastly, an apartment in Zaabeel First was purchased for AED 60 million.
Mortgaged properties amounted to a total of AED 1.42 billion for the week. The most valuable mortgaged property was a land plot in Al Barshaa South Second, with a mortgage amount of AED 260 million.
Furthermore, during this period, 93 properties were granted to first-degree relatives, with a combined value of AED 337 million.