Real estate transactions in the Dubai Land Department last week amounted to AED 14.6 billion, resulting from 4,367 transactions, as the department witnessed the registration of more than 3,797 sales worth AED 10.93 billion, 728 mortgage transactions worth AED 2.63 billion, and 95 donation transactions worth AED 1.09 billion.
The weekly sales transactions were distributed as follows: 308 land sales, 2,722 residential unit sales, and 500 building sales, while mortgage transactions were distributed as follows: 216 land mortgages, 571 residential unit mortgages, and 121 building mortgages. The Business Bay area came in first in terms of sales value with AED 1.06 billion resulting from 167 transactions.
The second place went to Al Yefra 1 area with 269 deals worth AED 863 million, the third place went to Dubai Maritime City area with 244 deals worth AED 788 million, the fourth place went to Burj Khalifa area with 159 deals worth AED 534 million, and the fifth place went to Business Bay area with two deals worth AED 463 million.
This week, the real estate market witnessed the sale of two plots of land in the Business Bay area for a total value of AED 463 million. The first deal was worth AED 236 million for a residential plot spanning an area of 71,655 square feet, equivalent to AED 3,297 per square foot, while the second plot of land was worth AED 226 million and spans an area of 72,473 square feet, equivalent to AED 3,118 per square foot. Another plot of land was sold in Al Yalayis 1 area for AED 188 million and spans an area of 2.7 million square feet.