14.94 billion dirhams in weekly sales of Dubai real estate

Real estate transactions in Dubai recorded, during last week’s transactions, about 18.77 billion dirhams, after implementing 5,266 transactions, which included sales worth 14.94 billion dirhams.

The weekly real estate sales were divided into 3,450 sales of residential units, 449 sales of buildings, and 329 sales of lands, with a total of 4,278 sales, according to data from the “Dubai Rest” application, affiliated with the Dubai Land Department.

Dubai’s ready real estate sales amounted to about 7.58 billion dirhams, through the implementation of 1,507 transactions, while off-plan real estate sales amounted to about 7.35 billion dirhams, through the implementation of 2,771 transactions.

Mortgage transactions recorded 822 transactions, worth 2.89 billion dirhams, distributed as follows: 491 for residential units, 118 for buildings, and 213 for land, while the value of gifts amounted to about 943.8 million dirhams, with 166 transactions, distributed over 132 transactions for residential units, nine transactions for buildings, and 25 transactions for land.

The “Al Yalayis 1” area came in the lead, in terms of the value of real estate sales, with 984.03 million dirhams, followed by “Me’aisem II” with about 775.23 million dirhams, “Palm Jebel Ali” with 755.24 million dirhams, “Business Bay” with 668.34 million dirhams, then the “Airport City” area with 501.32 million dirhams.

The “Nad Al Sheba First” area ranked sixth, recording about 500.06 million dirhams, followed by “Palm Jumeirah,” recording 387.41 million dirhams, “Palm Deira,” recording 387.41 million dirhams, and “Jumeirah Village Circle,” recording 376.77 million dirhams.

At the level of daily performance, real estate transactions in Dubai yesterday recorded about 2.84 billion dirhams, after implementing 702 deals, which included sales worth 1.83 billion dirhams.

During last week’s transactions, the real estate market in Dubai witnessed record transactions, represented by the sale of a luxury residential apartment off-plan in the Jumeirah II area, and the mortgage of a hotel in the World Islands area.

According to data from the Dubai Land Department, the area of ​​the residential apartment is about 21,812 square feet, at a price of 9,627 dirhams per square foot, with a total value of 210 million dirhams.

The market recorded another record deal, which was the mortgage of a hotel in the World Islands area (Zaya Zoha Island), with an area of ​​392,161 thousand square feet, and a value of 1,407 dirhams per square foot, for a total of 552 million dirhams.