Dubai real estate boom continues with $2.6bn of property deals in a week.

by: ArabianBusiness:
Dubai real estate continues its strong run with 2,157 transactions this week. Dubai saw real estate and property transactions valued at more than AED9.6bn ($2.6bn) this week, according to the Dubai Land Department.

The sum of transactions was 2,157 according to land department data. 237 plots were sold for AED1.56bn ($425m) and 1,920 apartments and villas were sold for AED5.77bn ($1.6bn).

Dubai real estate deals
The top three land transactions were a plot in Al Wasl sold for AED147.5m ($40.2m), followed by land that was sold for AED112m ($30.5m) in Island 2 and land sold for AED147.5m ($40.1m) in Al Wasl in third place.

Al Hebiah Fifth recorded the most transactions for this week, with 108 sales transactions worth AED383.71m ($104.4m), followed by Al Yufrah 1 with 28 sales transactions worth AED163.27m ($44.4m), and Al Hebiah Fourth with 14 sales transactions worth AED149m ($40.6m) in third place.

The top three transfers for apartments and villas were an apartment sold for AED410m ($112m) in Island 2, second in the list sold for AED220m ($60m) in Business Bay and thirdly was a property sold for AED125m ($34.4m) in Palm Jumeirah.

The sum amount of mortgaged properties for the week was AED1.68bn ($457m), with the highest being land in Al Barsha South Fourth, mortgaged for AED324m ($88m).

74 properties were granted between first-degree relatives worth AED665m ($182m). For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.


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