The Dubai real estate sector recorded AED12.9bn ($3.5bn) of transactions this week, according to data presented by the Dubai Land Department.
A total of 1,659 real estate transactions were conducted during the week ending October 13.
The report showed that 297 plots were sold for AED5.08bn ($1.4bn), while 1,362 apartments and villas were purchased for AED4.57bn ($1.2bn).
Dubai real estate this week
The top three transactions for land were:
- A plot in Palm Jumeirah sold for AED1bn ($272m)
- A plot in Palm Deira sold for AED600m ($163m)
- A plot in Al Thanyah Fifth sold for AED121.84m ($33m)
Madinat Hind 4 recorded the most sales transactions this week with 55 transactions worth AED90.69m ($25m), followed by Palm Jebel Ali with 49 sales transactions worth AED1.16bn ($316m), and Al Hebiah Fifth with 38 sales transactions worth AED112.18m ($31m).
Among the top transfers for apartments and villas were homes in Palm Jumeirah sold for AED36m ($10m) and AED27m ($7.4m).
The total value of mortgaged properties for the week reached AED2.37bn ($645m).
Meanwhile, 117 properties were granted between first-degree relatives worth AED900m ($246m).
