Dubai Real Estate Market: AED 9.1 billion in Weekly Transactions

According to data published by the Dubai Land Department, 2,926 real estate transactions of more than AED 9.1 billion took place during the week ending December 23, 2022. (DLD).

According to the DLD data, 2,233 homes and villas were bought for AED 5.44 billion, while 159 plots were sold for AED 877.59 million. The top three transactions included the sales of land in Business Bay for AED 100 million, land in Al Sofouh First for AED 96.5 million, and land in Business Bay for AED 100 million.

Al Hebiah Fifth had the most sales transactions this week with 66 totalling AED 177.34 million, followed by Al Yufrah 2 with 21 totaling AED 28.72 million and Jebel Ali First with 12 totaling AED 38 million.

A Jumeirah First apartment valued AED 315 million, a Business Bay apartment worth AED 183 million, and a Palm Jumeirah apartment costing AED 85 million were the top three transfers for flats and villas.

A parcel on the Palm Jumeirah received the largest mortgage amount of AED 794 million, bringing the total value of mortgaged properties for the week to AED 2.65 billion. In the interim, first-degree relatives received 79 properties worth AED 172 million.

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