More than 1,000 apartments, villas sold in Dubai in one week

Transactions valued at $509mln, says Dubai Land Department

  
Image used for illustrative purpose. Newly constructed villas are seen from the air, in Dubai, United Arab Emirates.

Image used for illustrative purpose. Newly constructed villas are seen from the air, in Dubai, United Arab Emirates.

Getty Images

Buyer interest remains high in Dubai, with 1,036 apartments and villas sold for 1.87 billion dirhams ($509 million) in one week, according to the Dubai Land Department (DLD).

The residential units were among the 4.53 billion dirhams worth of properties that were sold in 1,541 transactions during the week ending March 4, 2021.

Also sold were 113 plots, valued at 548.09 billion dirhams.

The biggest transaction was for a plot in Island 2, a mixed-use development in Dubai, that was sold for 34 million, followed by a land in Al Thanayah Fourth that was snapped up by a buyer for 26.5 million dirhams. The third-biggest plot sold was located in Island 2 for 34 million dirhams.

The total value of mortgaged properties for the week reached 2 billion dirhams.

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)

Cleofe.maceda@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

More From Alternative Investments