Dubai Property Deals Reach Dhs 5.5 Billion

The real estate market in the UAE is vibrant these days, in light of the successive disclosure of many important initiatives, and various project packages within the “50 projects” plan, which contribute to promoting economic growth and accelerating the pace of recover

BY Realty Plus
Published - Friday, 17 Sep, 2021

Dubai Property Deals Reach Dhs 5.5 Billion

The real estate market in the UAE is vibrant these days, in light of the successive disclosure of many important initiatives, and various project packages within the “50 projects” plan, which contribute to promoting economic growth and accelerating the pace of recovery from the repercussions of the “Covid-19” pandemic. Dubai has recorded 1,610 real estate and properties transactions, valued at Dhs5.5 billion in total, during the week ending 16th September 2021, according to Dubai Land Department’s (DLD) weekly report. A total of 119 plots were sold for Dhs1.39 billion, while 1,081 apartments and villas were sold for Dhs2.14 billion. The top three transactions were a land in Palm Jumeirah sold for Dhs508m, followed by a land that was sold for Dhs68.54m in Saih Shuaib 2, and a land sold for Dhs50m in in Saih Shuaib 2 in third place. Al Hebiah Third recorded the most transactions for this week by 20 sales transactions worth Dhs 62.34 million, followed by Al Yufrah 2 with 15 sales transactions worth Dhs18.07 million, and Hadaeq Sheikh Mohammed Bin Rashid with 14 sales transactions worth Dhs253 million in third place. The sum of mortgaged properties for the week was 2 billion, with the highest being a land in Al Safouh Second, mortgaged for Dhs 320 million. 93 properties were granted between first-degree relatives worth Dhs 279 million.