Record mortgage deals raise Dubai real estate transactions to 6.28 billion dirhams

Yesterday, the real estate market in Dubai witnessed remarkable activity with the recording of record real estate mortgage deals that contributed to raising the total real estate transactions to exceed six billion dirhams in one day, a clear indication of the continued strong momentum witnessed by the sector, and the confidence of investors in the local real estate market, driven by the attractiveness of Dubai as a safe and stable investment destination, in addition to the increasing demand for real estate assets of various types.

The total real estate transactions recorded about 6.28 billion dirhams through the implementation of 986 deals, which included sales of about 2.077 billion dirhams after implementing 805 deals, according to data from the “Dubai Rest” application, affiliated with the Dubai Land Department.

Yesterday, Dubai real estate sales were divided into 728 sales of residential units, 35 sales of buildings, and 42 sales of lands.

Ready real estate sales amounted to about 877.41 million dirhams through the implementation of 206 deals, divided into 157 sales of residential units, seven sales of buildings, and 42 sales of lands, while sales of off-plan real estate amounted to about 1.2 billion dirhams, through 599 deals divided into 571 sales of residential units, and 28 sales of buildings.

Real estate mortgages recorded 154 transactions worth 3.76 billion dirhams, distributed as 89 transactions for residential units, 16 transactions for buildings, and 49 transactions for land.

Yesterday, the real estate market in Dubai witnessed the implementation of real estate mortgage deals for land, the most prominent of which was the mortgage of a plot of land in the “Al-Yafra 1” area for the purpose of commercial use on an area of ​​18.36 million square feet, with a value of 2.59 billion dirhams. It also mortgaged a plot of land in the same area on an area of ​​6.04 million square feet, with a value of 405.17 million dirhams.

In turn, the value of the donations amounted to about 440.93 million dirhams, with 27 transactions distributed among 17 transactions for residential units, two transactions for buildings, and eight transactions for land.

Thus, real estate sales accounted for 33.09% of the total value of registered transactions yesterday, while mortgages accounted for about 59.9%, and donations accounted for about 7.01%.