The week ending 06 October 2023, Dubai witnessed a total of 1445 real estate transactions valued at a staggering 9.5 billion dirhams. This recap highlights the top transactions and key areas with the most activity.
The most notable transaction was the sale of a land in Jumeirah Second, fetching a remarkable 100.44 million dirhams. Following closely was another land sale in Al Hebiah Fourth, amounting to 100 million dirhams. Lastly, a land sale in Al Hebiah Fourth took the third spot with a price tag of 70.33 million dirhams.
Al Hebiah Fifth dominated the real estate market with an impressive 78 sales transactions worth 319.83 million dirhams. Following behind was Madinat Hind 4, recording 60 sales transactions valued at 98.25 million dirhams. Madinat Al Mataar secured the third spot with 18 sales transactions worth 130.27 million dirhams.
Palm Jumeirah witnessed the highest apartment transfer, with a luxurious unit sold for a staggering 220 million dirhams. Zaabeel First ranked second, as an apartment changed hands for 200 million dirhams. Al Thanayah Fourth claimed the third spot, with a property sold for 95 million dirhams.
The total value of mortgaged properties for the week amounted to 4.2 billion dirhams. Among them, the most valuable property was a piece of land in Al Wasl, securing a mortgage of 2.4 billion dirhams. In terms of property grants between first-degree relatives, a total of 110 properties were transferred, with a combined value of 392 million dirhams.