Dubai’s real-estate and property transactions reached a total of $1.9 billion (AED 7.1 billion) across 1,746 transactions during the week ending April 1.

In comparison, the number of transactions in the previous week was 1,131, with a total value of AED 3 billion.

The largest transaction was for a plot at Madinat Dubai Almelaheyah that sold for AED 212.6 million, followed by a plot in Hadaeq Sheikh Mohammed Bin Rashid that sold for AED 53 million. In third place was a piece of land in Madinat Dubai Almelaheyah that sold for AED 212.6 million.

Hadaeq Sheikh Mohammed Bin Rashid recorded the most transactions with 28, worth a total of AED 223.92 million. Nad Al Shiba followed with 22, worth a total of AED 55.3 million, followed in turn by Al Hebiah with 8, worth a total of AED 26 million.

The top three most expensive apartment sales were a unit worth AED 202 million in Palm Jumeirah, followed by AED 190 million for a property in Marsa Dubai and AED 188 million for an apartment in Burj Khalifa.

The sum of the mortgages taken for properties during the week was AED 4 billion, with the highest value being a plot in Marsa Dubai that was mortgaged for AED 2 billion.
 
Finally, 86 properties worth AED 193 million were transferred between first-degree relatives.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

 imogen.lillywhite@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