Weekly real estate transactions in Dubai amounted to 5.3 billion dirhams

Weekly real estate transactions in Dubai amounted to 5.3 billion dirhams

During the week from August 1 to August 5, a total of 2,247 real estate transactions totaling AED 5.3 billion ($1.4 billion) were registered in Dubai.

1,510 apartments and villas were sold for AED 2.79 billion ($759.5 million), while 255 plots were sold for AED 1.24 billion ($337.5 million).

The land in Hadaeq Sheikh Mohammed Bin Rashid was sold for AED 106.57 million ($29 million), taking first place, and land on Island 2 was sold for AED 90 million ($24.5 million), taking second place in the ranking of the most expensive deals of the week.

The fifth-largest company Al Habib made the most transactions this week, making 130 purchases worth AED 310.91 million ($84.6 million). Jabal Ali First took second place with 40 sales worth AED 126.81 million ($34.5 million), and Al-Youfra 2 took third place with 26 sales worth AED 31 million ($8.4 million).

The top three deals of apartments and villas included an apartment in Marsa Dubai, which cost AED 375 million ($102 million), an apartment in Business Bay, which cost AED 329 million ($89.5 million), and an apartment in Burj Khalifa, which cost AED 246 million ($66.9 million).

The total value of real estate mortgaged for the week amounted to AED 1.14 billion ($310.3 million), while the land in Al-Tanya was the first to receive the highest mortgage in the amount of AED 140 million ($38.1 million).

68 properties worth AED 214 million ($58.2 million) were distributed among the relatives of the first degrees.

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