Dubai Real Estate Transactions witnessed an impressive surge, totaling over 10.4 billion in value during the week ending on August 18, 2023. With a remarkable count of 3,571 transactions, the real estate market was booming.
The revenue generated from the sale of 120 plots amounted to a staggering AED 1.2 billion. Additionally, 2,782 apartments and villas changed hands, reaching a substantial AED 6.86 billion.
Among the notable transactions, the top three involved land properties. A land in Al Barshaa South Third fetched an impressive AED 140 million, securing the first spot. Close behind, a piece of land in Palm Jumeirah was sold for AED 106 million. The third spot went to a land in Al Hebiah Fourth, with a sale price of AED 91 million.
In terms of transaction volume, Madinat Hind 4 dominated with 21 sales transactions worth AED 28.86 million. Al Hebiah Fifth followed closely with 20 sales transactions amounting to AED 51.65 million. Jabal Ali First secured the third position with 13 sales transactions worth AED 80 million.
When it comes to apartments and villas, the highest three transfers included an extravagant apartment in Palm Jumeirah, fetching an astounding AED 112 million. Zaabeel First claimed the second spot with an apartment sold for AED 59 million. Finally, an apartment in Burj Khalifa achieved third place with a sale price of AED 57 million.
During the week, mortgaged properties reached a total value of 1.99 billion, with the largest mortgage recorded on a land property in Business Bay, amounting to AED 350 million.
Furthermore, 109 properties were granted to first-degree relatives, accumulating a value of AED 438 million.