Real Estate transactions in Dubai totaled more than AED 2.8 billion in realty transactions on Tuesday.

On Tuesday, Dubai's real estate market experienced a bustling day of transactions, revealing significant activity within the sector. According to comprehensive data released by Dubai's Land Department (DLD), a remarkable total of 578 sales transactions were documented, collectively amounting to an impressive AED 2.1 billion.

Beyond the realm of sales, the real estate landscape saw further engagement in the form of 132 mortgage deals, aggregating to a substantial sum of AED 702.33 million. This financial facet illuminated the various investment and ownership avenues individuals were pursuing within the dynamic property market.

Additionally, the day showcased the occurrence of 12 gift deals, symbolizing gestures of property exchange with a cumulative value of AED 19 million. These exchanges underscored the broader economic and personal motivations underpinning real estate transactions.

Delving into the specifics of the sales, the records indicated the transfer of ownership for a total of 535 villas and apartments. This category alone represented an impressive worth of AED 1.7 billion, revealing the desirability of residential spaces within the city.

Parallel to the residential sector, the transactional landscape extended to encompass land plots. Among the day's activities were 43 land plot transactions, which collectively contributed an impressive AED 397.75 million to the overall market dynamics.

Turning attention to the realm of mortgages, it became evident that 102 villas and apartments were involved in these financial arrangements, collectively evaluating at AED 546.16 million. This financial dimension highlighted the diversity of buyers, from prospective homeowners to seasoned investors, who were engaging with the realty market.

Moreover, the mortgage activities extended to include 29 land plots, accentuating the value of land as an asset class within the real estate portfolio. These transactions collectively valued at AED 156.17 million, reflecting the strategic significance of land development and ownership.

Considering the cumulative impact of the sales, mortgages, and gift deals, the real estate transactions for the day were undeniably substantial, surmounting an impressive AED 2.8 billion. This grand total symbolized the vibrancy and resilience of Dubai's real estate market, capturing the multifaceted aspirations and interests of a diverse array of investors, homeowners, and property enthusiasts.