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Buyers continued to flock to Dubai’s property market, with real estate deals reaching AED1.54 billion ($419.3 million) on Monday, data from the Dubai Land Department (DLD) showed.
Total sales stood at AED1.27 billion, representing more than 82% of the transactions, while mortgaged properties worth over AED220 million accounted for nearly 15% of the deals.
Cash and mortgage transactions included at least 413 property units, 49 buildings and 135 land plots.
Property transactions have been rising due to strong demand from local and foreign investors. In Abu Dhabi alone, Aldar reported on Monday that it has just sold out one of its new projects, Yas Pak Gate, for a total of AED 1.1 billion.
(Reporting by Cleofe Maceda; editing by Anoop Menon)
