Selling a plot of land in Dubai for 3.81 billion dirhams

Yesterday, the real estate market in Dubai recorded a record sale deal for a plot of land for commercial use in the “Al Yafra 1” area, at a value of 3.81 billion dirhams, according to data from the Dubai Land Department.

The data showed that the total area of ​​the plot of land is about 37.49 million square feet, at a price of 101.38 dirhams per foot.

Yesterday, real estate market transactions witnessed the implementation of 868 sales transactions with a total value of 6.58 billion dirhams, distributed among 756 residential units, 59 buildings, and 52 plots of land.

Dubai is witnessing a boom in land sales, as it recorded sales worth 230.4 billion dirhams during the first 10 months of this year, distributed over 22,830 deals.

As for mortgages, 184 transactions were recorded worth 3.44 billion dirhams, distributed as 103 for residential units, 23 for buildings, and 58 for lands, while gifts amounted to 28 transactions worth 89.43 million dirhams, 20 for residential units and eight for lands.

The transactions also witnessed the mortgage of a plot of land in the “Al-Yafra 1” area for commercial use, at a value of three billion dirhams, on an area of ​​37.48 million square feet, at a price of 80.03 dirhams per square foot.

Thus, the total real estate transactions in Dubai during yesterday’s transactions reached about 10.1 billion dirhams, through the implementation of 1,080 transactions.

Since the beginning of this year, Dubai real estate sales have reached an all-time high of 639.45 billion dirhams through the implementation of 201.39 thousand transactions, driven by continued great momentum and high levels of local and foreign demand, to consolidate the emirate’s position as a major global destination for investment. Since the beginning of this December, Dubai real estate sales have reached about 21.8 billion dirhams through the implementation of 5,682 deals distributed as 4,928 residential units and 392 building deals. And 362 land transactions.