11.32 billion dirhams in Dubai real estate transactions in a week

During last week’s transactions, real estate transactions in Dubai recorded more than 11.32 billion dirhams through the implementation of 4,085 transactions, a clear indication of the strength of the market and its ability to cohesion in the face of regional changes, based on the momentum of demand from local and international investors.

The weekly real estate transactions included sales worth 7.47 billion dirhams, distributed by 2,797 sales of residential units, 146 sales of buildings, and 167 sales of lands, with a total of 3,110 transactions, according to data from the “Dubai Rest” application of the Dubai Land Department.

Ready real estate sales amounted to about 3.38 billion dirhams through the implementation of 797 transactions, divided into 571 transactions for residential units, 59 transactions for buildings, and 167 transactions for land, while off-plan real estate sales continued to excel to record about 4.08 billion dirhams through 2,313 transactions, divided into 2,226 transactions for residential units and 87 transactions for buildings.

There were 738 mortgage transactions, worth 2.58 billion dirhams, distributed as 444 transactions for residential units, 105 transactions for buildings, and 189 transactions for land. The value of the donations amounted to about 1.28 dirhams, in 237 transactions, distributed among 197 transactions for residential units, 11 transactions for buildings, and 29 transactions for lands.

The “Airport City” area topped the list of areas during last week’s transactions, in terms of the value of real estate sales, with 611 million dirhams, followed by “Business Bay” with about 426 million dirhams, then the “Saih Shuaib 3” area, recording 348 million dirhams, while the “Umm Suqeim First” area came next with 328 million dirhams, then the “Palm Deira” area, which recorded 305 million dirhams.

At the level of daily performance, real estate transactions in Dubai yesterday recorded about 1.69 billion dirhams, after implementing 557 transactions, which included sales worth 1.25 dirhams, while the value of mortgages amounted to 296.77 million dirhams, while donations recorded 143.69 million dirhams.