Record deal: selling a plot of land on Palm Jumeirah for 1.86 billion dirhams

Today, Thursday, the real estate market in Dubai recorded a record sale deal for a plot of land on Palm Jumeirah at a value of 1.86 billion dirhams, according to data from the Dubai Land Department.

The data showed that the total area of ​​the plot of land is about 1.015 million square feet, at a price of 1832.56 dirhams per foot.

By 1:20 pm UAE time, real estate market transactions witnessed the execution of 611 sales transactions with a total value of 4.4 billion dirhams, distributed among 548 residential units, 23 buildings, and 40 plots of land.

Dubai is witnessing a boom in land sales, as it recorded sales worth 230.4 billion dirhams during the first ten months of this year, distributed over 22,830 deals.

As for mortgages, 200 transactions were recorded worth 505.3 million dirhams, distributed as 113 for residential units, 37 for buildings, and 58 for lands, while gifts amounted to about 54 transactions worth 98.66 million dirhams, 48 ​​for residential units and 6 for lands.

Thus, the total real estate transactions in Dubai during the middle of today’s trading reached about 5.89 billion dirhams, through the implementation of 873 transactions.