Dubai real estate deals hit AED 10.3 billion in a week
2023.11.10 07:33
In a robust display of market activity, Dubai’s real estate sector recorded transactions totaling AED 10.3 billion over the course of the last week, encompassing 1,782 individual deals. The sales included 396 plots and 1,386 apartments and villas, indicating a healthy interest in both land and residential properties.
The week also witnessed significant family transfers, with 142 properties handed over to first-degree relatives, amounting to AED 1 billion in value. This suggests a strong trend of property consolidation within families.
A few areas stood out due to their high-value transactions. The most expensive lands were sold in Me’Aisem Second, Al Safouh Second, and Wadi Al Safa 2, with the highest single land sale reaching AED 309.91 million. Wadi Al Safa 2 was not only part of this high-value bracket but also led the number of transactions for the week, followed by Palm Jabal Ali and Me’Aisem Second.
When it came to apartment and villa transfers, Marsa Dubai, Palm Jumeirah, and Me’Aisem First were the top locations with transfers totaling AED 455.8 million. These figures underscore the continued allure of Dubai’s premium neighborhoods among buyers and investors.
Mortgages also formed a significant portion of the week’s real estate financial activities, with a total value of AED 1.86 billion. Nad Al Hamar emerged as the area with the highest mortgage value registered, reflecting its growing status as an investment hub within the city.
This flurry of activity points to a dynamic real estate market in Dubai, characterized by high-value sales and strategic investments across various districts.
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