Dubai property sector records $2.1bn of sales this week, including $19m Palm Jumeirah villa

Dubai Land Department records 1,744 transactions this week, including $621m of mortgage deals

The Dubai real estate sector recorded transactions valued at around AED8bn ($2.1bn) in the week ending September 22, according to data from the Dubai Land Department.

In total there were 1,744 transactions, including,

289 plots were sold for AED2.11bn ($575m), 1,455 apartments and villas were sold for AED3.19bn ($869m).

Dubai real estate this week
The top three transactions were:

• A plot in Wadi Al Safa 3 sold for AED79.4m ($21.6m)
• A plot in Wadi Al Safa 3 sold for AED77.69m ($21.2m)
• A plot in Al Manara sold for AED70m ($19m)
• Al Hebiah Fifth recorded the most transactions this week, with 73 sales transactions worth AED422.26m ($116m). It was followed by Madinat Hind 4 with 54 sales transactions worth AED79.2m ($21.6m), and Madinat Al Mataar with 28 sales transactions worth AED133.48m ($36.3m).
  

The top property sale was a villa sold for AED70m ($19m) in Palm Jumeirah.

This was followed by an apartment in Marsa Dubai sold for AED55.65m ($15.2m) and a home in Palm Jumeirah sold for AED45m ($12.2m).

The sum of the amount of mortgaged properties for the week was AED2.28bn ($621m), with the highest being land in Wadi Al Safa 3, mortgaged for AED381.73m ($104m).

147 properties were granted between first-degree relatives worth AED501m ($136.4).

Source: arabianbusiness.com