Real estate transactions at the Dubai Land Department recorded AED 16.3 billion last week, resulting from 5,062 transactions, as the department witnessed the registration of more than 4,095 sales worth AED 11.9 billion, 752 mortgage transactions worth AED 3.5 billion, and 215 gift transactions worth AED 964 million.
The weekly sales transactions were distributed as follows: 512 land sales, 3,295 residential unit sales, and 388 building sales, while mortgage transactions were distributed as follows: 229 land mortgages, 572 residential unit mortgages, and 104 building mortgages.
Ghadeer Al Tayer came in first place in terms of sales value with AED 1.9 billion resulting from 123 deals, followed by Business Bay with 184 deals worth AED 477 million, third was Wadi Al Safa 5 with 288 deals worth AED 454 million, then Jumeirah Village Circle with 229 deals worth AED 405 million, and fifth was Sheikh Mohammed bin Rashid Gardens with 301 deals worth AED 405 million. The market witnessed the sale of a commercial plot of land in the Palm Jumeirah area for AED 135 million, in addition to the sale of an off-plan residential apartment in the Palm Jumeirah area within the “Orla Infinity by Omniyat” project for AED 72 million, and another apartment was sold in the Burj Khalifa area for AED 39 million.