Dubai's weekly real estate transactions total Dhs10.4 billion in recorded figures.

During the week ending on August 18, 2023, real estate and property transactions in Dubai surpassed a cumulative value of Dhs10.4 billion. A total of 3,571 transactions were recorded. Among these, 120 plots were sold for a total of Dhs1.2 billion, while 2,782 apartments and villas changed hands, amounting to Dhs6.86 billion in transactions.

The most significant transactions for the week included the sale of a piece of land in Al Barshaa South Third for Dhs140 million, followed by another land sale in Palm Jumeirah for Dhs106 million, and a third transaction involving land in Al Hebiah Fourth, which sold for Dhs91 million. In terms of transaction volume, Madinat Hind 4 led the way with 21 sales transactions worth Dhs28.86 million, followed by Al Hebiah Fifth with 20 sales transactions worth Dhs51.65 million, and Jabal Ali First with 13 sales transactions worth Dhs80 million.

In the category of apartments and villas, the top three transfers consisted of an apartment in Palm Jumeirah sold for Dhs112 million, followed by another apartment in Zaabeel First that fetched Dhs59 million, and a third apartment in Burj Khalifa which sold for Dhs57 million.

Mortgaged properties accounted for a total of Dhs1.99 billion during the week, with the highest-value mortgage associated with a land in Business Bay, mortgaged for Dhs350 million. Furthermore, there were 109 property transfers between first-degree relatives, collectively valued at Dhs438 million.

On Thursday alone, Dubai's real estate market recorded 591 sales transactions worth Dhs1.76 billion, along with 125 mortgage deals amounting to Dhs613.72 million and 36 gift deals worth Dhs98.44 million, as reported by Dubai’s Land Department (DLD). Among these, 561 villas and apartments were sold for Dhs1.42 billion, along with 30 land plots worth Dhs336.26 million. The mortgage transactions included 101 villas and apartments worth Dhs220.85 million and 24 land plots valued at Dhs392.87 million, culminating in a total real estate activity exceeding Dhs2.4 billion for the day.

In the preceding week, ending on August 11, 2023, Dubai's real estate and property transactions aggregated to Dhs9.7 billion, encompassing a total of 3,103 transactions. Of these, 235 plots were sold for Dhs2.23 billion, while 2,302 apartments and villas changed hands for a combined sum of Dhs5.76 billion.

The three most substantial transactions during that week were the sale of a land parcel in Al Wasl for Dhs368.74 million, another land sale in Trade Centre Second for Dhs276 million, and a land transaction in Palm Deira which concluded at Dhs181.21 million. Transaction volume was led by Madinat Hind 4, registering 72 sales transactions valued at Dhs103.41 million, trailed by Al Hebiah Fifth with 58 sales transactions worth Dhs232.65 million, and Jabal Ali First with 24 sales transactions amounting to Dhs92 million.

In the realm of apartments and villas, the most noteworthy transfers consisted of a villa in World Islands sold for Dhs79 million, followed by another villa in World Islands sold for Dhs72 million, and a third apartment transaction in Zaabeel First amounting to Dhs60 million.