Billions worth of Dubai property deals week ending April 15

Around 1,998 real estate transactions conducted
Billions worth of Dubai property deals week ending April 15
Aerial view, Dubai.

Around 1,988 real estate transactions — with an accumulated worth of 7.8 billion dirhams — have been conducted in Dubai in the week ending on April 15, 2022, Emirates News Agency (WAM) reported.

An estimated 246 plots were sold for 1.49 billion dirhams, while 1,312 apartments and villas were sold for 2.96 billion dirhams, according to figures released by the Dubai Land Department.

The top three transactions were a land in Ras Al Khor Industrial First sold for 179.55 million dirhams, followed by a land that was sold for 152.95 million dirhams in Al Merkadh, and a land sold for 105 million dirhams in Merkadh in third place.

Al Hebiah Fifth recorded the most transactions for this week with 147 sales transactions worth 351 million dirhams, followed by Wadi Al Safa 5 with 20 sales transactions worth 95 million dirhams, and Al Merkadh with 14 sales transactions worth 260 million dirhams in third place.

The top three transfers for apartments and villas were an apartment was sold for 332 million dirhams in Burj Khalifa, an apartment was second in the list sold for 307 million dirhams in Palm Jumeirah, and thirdly it was an apartment sold for 282 million dirhams in Marsa Dubai.

In addition, mortgages amounted to 2.87 billion dirhams.

A total of 66 land plots have been mortgaged for 1.07 billion dirhams. As for apartments and villas, 264 have been mortgaged, for 1.8 billion dirhams.

A total of 80 properties, worth 497.69 million dirhams, were also granted to first-degree relatives.