Real estate transactions in Dubai Land Department yesterday amounted to AED 2.33 billion, through 982 transactions. The department witnessed the registration of 767 sales worth AED 1.68 billion, including 61 land sales, 631 residential unit sales and 75 building sales.
The Me’aisem 2 area topped sales in terms of value with AED 104 million through 7 transactions, followed by Wadi Al Safa 5 area with AED 96 million resulting from 25 transactions, third was Emaar South area with AED 82 million through 68 transactions, and fourth was Business Bay area with 50 transactions worth AED 80 million.
The real estate market recorded the sale of a commercial plot of land in Al Sufouh Gardens area for AED 79 million, in addition to the sale of an apartment off-plan in Tecom SITE A area for AED 16 million.
Mortgages recorded a value of AED 473 million through 173 transactions, including 57 land mortgages, 106 residential mortgages, and 20 building mortgages, while the market witnessed the registration of 42 grants worth AED 177 million. It is worth noting that apartments maintained their position as the most sought-after residential option in Dubai, representing 77% of total resale transactions.