A total of USD 38.3M worth of property transactions were registered in Dubai on August 23rd

During the week ending August 19, Dubai registered a total of AED 10.3B (USD 2.8B) worth of transactions, including 2,239 apartments and villas and 344 plots, amidst the ongoing boom in the local real estate market. In the meantime, on Tuesday August 23rd, property deals amounted to AED 1.4B (USD 381.16M) and encompassed 387 sales transactions valued at AED 1.15B (USD 313M), 68 mortgage deals amounting to AED 149.38M (USD 40M), as well as 85 gift deals with a total sum of AED 140.85M (USD 38.3M). These figures were reported by the Dubai’s Land Department (DLD).

Last Tuesday there were 336 villas and apartments sold, worth AED 913.23M (USD 248.6M) and 51 land plots worth AED 241.01M (USD 65.6M), while loans included a total of 53 apartments and villas for AED 117.45M (USD 31.9M) and 15 plots priced at AED 31.94M (USD 8.69M).

Among the top transactions during the week ending August 19th was a land sale worth AED 400.18M (USD 108.9M) in Al Wasl, a AED 205M (USD 55.8M) land sale in Hadeq Mohammed bin Rashid and a land plot in Palm Jumeirah which sold for AED 130M.

According to Property Finder, the most searched areas in the emirate for residences are Dubai Marina, Downtown Dubai and Business Bay thanks to their unique lifestyle amenities. It is worth mentioning that Business Bay has recently witnessed the exciting launch of Jumeirah Living Business Bay, which is the sixth phase of the Peninsula project.

Developed by Select Group in collaboration with Jumeirah Group, the ultra-luxury 35-storey development will house a total of 82 branded residences, namely 2-4 bedroom apartments, 5-bedroom half-floor and duplex penthouses, and an exclusive full-floor penthouse. For an elevated premium lifestyle, occupants of Jumeirah Living Business Bay will be granted full access to swimming pools, wellness areas, a residents’ cinema, an outdoor terrace, a gym with a personal training room and much more.