Real estate transactions at the Dubai Land Department during the week amounted to more than 14.2 billion dirhams, resulting from 4,218 transactions.
The department witnessed the registration of more than 3,169 sales transactions worth 9.48 billion dirhams, 821 real estate mortgage transactions worth 3.87 billion dirhams, and 228 gift transactions worth 926 million dirhams.
The weekly sales deals were divided into 415 land sales, 2,387 residential units, and 367 buildings, while mortgage deals were divided into 214 land mortgages, 517 residential units mortgages, and 136 buildings mortgages. The Palm Jumeirah area came first in terms of sales value with 806 million dirhams resulting from 36 deals.
This week, the real estate market witnessed a sale of a commercial plot of land in the Dubai Science Park area for a value of 144 million dirhams, in addition to the sale of two off-plan apartments in the “luxury real estate” category for a value of 152 million dirhams.
The two deals were registered in the Palm Jumeirah area within the “Orla Infinity by Omniyat” project. The price of the first apartment was 76.6 million dirhams and extends over an area of 7,885 square feet, equivalent to 9,714 dirhams per square foot, while the price of the second residential apartment reached 75.7 million dirhams and extends over an area of 7,674 square feet, equivalent to 9,864 dirhams per square foot.