In the week ending 25 August 2023, the total value of real estate and property transactions in Dubai reached an impressive AED 23.1 billion. A total of 3,229 transactions took place during this period. Out of these, AED 1.33 billion worth of transactions were attributed to the sale of 183 plots, while 2,361 apartments and villas were sold for a combined total of AED 5.77 billion.
The top three transactions of the week were as follows: a land in Madinat Dubai Almelaheyah sold for AED 93.37 million, followed by a land in Palm Jumeirah that fetched AED 76 million, and a land in Al Barshaa South Second that was sold for AED 64.1 million, securing the third position.
Madinat Al Mataar led the way in terms of transaction volume, recording 51 sales transactions amounting to AED 182.3 million. This was followed by Al Hebiah Fifth with 24 sales transactions worth AED 59.3 million, and Saih Shuaib 1 with 19 sales transactions valued at AED 33 million, coming in third.
In the apartments and villas category, the top three transfers were as follows: a villa in Palm Jumeirah sold for AED 65 million, securing the first spot, another villa in Palm Jumeirah sold for AED 57 million, taking second place, and finally, a property in Palm Jumeirah was sold for AED 54 million, securing the third position.
The total value of mortgaged properties during the week amounted to a staggering AED 15.75 billion, with the highest mortgage recorded for a land in Jabal Ali Industrial First, valued at AED 14 billion.
Furthermore, 121 properties were granted between first-degree relatives, with a total value of AED 301 million.
In conclusion, the real estate market in Dubai experienced robust activity during the week ending 25 August 2023, with significant transactions across various property types and areas.