Dubai Real Estate Soars with AED 8.2 Billion in Weekly Transactions

According to the Dubai Land Department (DLD), the week ending October 20, 2023, witnessed a total of 1,524 real estate and property transactions, amounting to AED 8.2 billion in value.

The DLD's weekly report revealed that 1,292 flats and villas were sold for AED 3.08 billion, while 232 plots were sold for AED 2.57 billion.

The top three transactions included the sale of land in Al Hebiah Fourth for AED 65.13 million, land in Al Thanayah Fourth for AED 56.67 million, and land in Al Yufrah 4 for AED 51 million.

This week, Palm Jabal Ali led with 51 sales transactions totaling AED 1.19 billion, followed by Al Hebiah Fifth with 24 sales transactions amounting to AED 91.65 million, and Madinat Hind 4 in third place with 21 sales transactions totaling AED 29.28 million.

The top three property transfers for apartments and villas were recorded in Business Bay for AED 132 million, Rega Al Buteen for AED 80 million, and Mankhool for AED 70.1 million.

During the week, the total value of mortgaged properties reached AED 2.03 billion, with a plot in Business Bay securing the highest mortgage payment of AED 788.28 million.