More than AED 9,1B (USD 2,48B) in real estate sales last week

Last week saw 191 plots and 2,284 residences sold for AED 1,14B (USD 310,4M) and AED 6,03B (USD 1,64B), respectively, as reported by the Dubai Land Department (DLD).

The biggest transactions for land plots were as follows: AED 135M (USD 36,76M) in Island 2, AED 50M (USD 13,62M) in Business Bay and another AED 50M (USD 13,62M) in Hadaeq Sheikh Mohammed Bin Rashid.

The neighborhoods where the top transactions occurred were Al Hebiah Fifth recording 54 sales valued at AED 185,13M (USD 50,41M), followed by MIDINAT HIND 4 with 34 sales worth AED 50,26M (USD 13,69M) and, in third place, Al Hebiah Third reporting 14 sales totaling AED 53M (USD 14,43M).

As for exclusively apartments and villas, the top three deals included one in Island 2 sold for AED 122M (USD 33,22M), a second in Palm Jumeirah that was sold for AED 105M (USD 28,59M) and a third in World Islands for AED 74M (USD 20,15M).

Mortgages are also worthy of mention, as the total amount borrowed reached AED 1,68B (USD 460M), with the largest being AED 350M (USD 95,31M) for land acquisition in Business Bay.

There were an additional 77 properties transferred to family members that totaled roughly AED 264M (USD 71,89M).