Dubai has documented a staggering $2.64 billion in real estate transactions for the week.

In the week ending on August 11, 2023, Dubai saw a total of 3,103 real estate and property transactions, collectively valued at AED 9.7 billion, as reported by the Dubai Land Department (DLD).

The DLD's weekly report highlighted that out of these transactions, 235 plots were successfully sold, accumulating to a total of AED 2.23 billion. Additionally, 2,302 apartments and villas were sold, amounting to AED 5.76 billion in total sales.

The most significant transactions of the week included the sale of a land in Al Wasl for AED 368.74 million, followed by another land sale for AED 276 million in Trade Center Second, and a land transaction in Palm Deira that reached AED 181.21 million.

Madinat Hind 4 led the week's transaction activity with 72 sales worth AED 103.41 million, trailed by Al Hebiah Fifth with 58 sales, valued at AED 232.65 million. Jabal Ali First secured the third position with 24 sales, accounting for AED 92 million.

Turning to apartments and villas, the top transfers included the sale of a villa for AED 79 million in World Islands, followed by another villa in World Islands sold for AED 72 million. The third highest transfer was an apartment in Zaabeel First, sold for AED 60 million.

The total value of mortgaged properties throughout the week reached 1.42 billion, with the most substantial mortgage noted on a land in Al Barshaa South Second, amounting to AED 260 million.

Furthermore, 93 properties were granted among first-degree relatives, accumulating to a total value of AED 337 million.