Real estate transactions at the Dubai Land Department last week amounted to AED 16.7 billion, resulting from 4,807 transactions. The department witnessed the registration of more than 3,772 sales worth AED 10.5 billion, 848 mortgage transactions worth AED 5.6 billion, and 187 gift transactions worth AED 697 million.
The weekly sales transactions were distributed to include 290 land sales, 3,143 residential unit sales, and 339 building sales, while mortgage transactions were distributed as follows: 217 land mortgages, 546 residential unit mortgages, and 109 building mortgages.
The real estate market witnessed the sale of a commercial plot of land in the Palm Jumeirah area for AED 650 million, in addition to the sale of another plot of land designated for agricultural purposes for AED 94 million in the Wadi Al Amardi area, in addition to the sale of a ready residential apartment in the Palm Jumeirah area for AED 50 million, as well as the sale of a villa in the Dubai Studio City area for AED 48 million. In terms of real estate mortgages, the market recorded a mortgage deal for a commercial plot of land in the Palm Jumeirah area for AED 780 million, in addition to a mortgage for a hotel in the Burj Khalifa area for AED 482 million, and a residential apartment in the Dubai Marina area for AED 25 million.