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Dubai’s property market ended another busy week with more than 1,700 homes and dozens of plots snapped up by buyers for a combined value of 8 billion dirhams ($2.1 billion), according to the latest data.
The value of this week’s property transactions is up by 19.4 percent compared to the previous week’s deals worth 6.7 billion dirhams, data from the Dubai Land Department (DLD) showed.
The market logged a total of 2,624 deals for 274 plots valued at 1.15 billion dirhams and 1,757 apartments and villas worth 4 billion dirhams.
The biggest deal was recorded in Palm Jumeirah, where a parcel of land got sold for 126.25 million dirhams.
Total value of mortgaged properties for the week reached 2.73 billion dirhams.
(Reporting by Cleofe Maceda; editing by Seban Scaria )
