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Dubai achieves a weekly milestone with real estate transactions totaling $1.5 billion

Posted by GPG Staff on January 6, 2024

According to the Dubai Land Department (DLD) weekly report, a total of 1,721 real estate and property transactions, amounting to AED 5.8 billion, were conducted in the week ending January 5. The report highlighted that 114 plots were sold for AED 1.36 billion, while 1,183 apartments and villas were sold for AED 3.13 billion.

The top three transactions included the sale of land in Al Thanyah Fifth for AED 268.33 million, followed by a land in Warsan Fourth sold for AED 113.9 million, and a land in Palm Jabal Ali sold for AED 65.26 million.

Madinat Hind 4 recorded the highest number of transactions for the week with 18 sales transactions totaling AED 20.57 million. Palm Jabal Ali followed with 11 sales transactions amounting to AED 311.64 million, and Saih Shuaib 1 secured third place with 8 sales transactions worth AED 15.95 million.

For apartments and villas, the top three transfers were AED 110.01 million in Al Thanyah First, AED 62 million in Palm Jumeirah, and AED 56.4 million in Palm Jumeirah.

The total amount of mortgaged properties for the week reached AED 779.4 million, with the highest being a land in Al Hamriya, mortgaged for AED 125 million.

Additionally, 98 properties were granted between first-degree relatives, with a total value of AED 617 million.

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