Real estate transactions in Dubai continue to recover as investors and business owners continue to flock to the city. Yesterday, real estate transactions at the Dubai Land Department recorded more than 2.33 billion dirhams, completed through 789 transactions.
The department witnessed the registration of 610 sales, worth 1.89 billion dirhams, including 76 land sales, 451 residential unit sales, and 83 building sales.
Nad Al Sheba topped the sales in the areas in terms of value with AED 124 million through 26 deals, followed by Wadi Al Safa 7 with AED 121 million through 15 deals, Wadi Al Safa 5 with AED 118 million through 18 deals, and Palm Jumeirah with AED 117 million through 9 deals.
Yesterday, the real estate market in Dubai witnessed huge deals, as a commercial plot of land was sold in the Palm Jumeirah area, for a value of 47 million dirhams. The same area also recorded a deal to sell a residential apartment off-plan within the “SLS RESIDENCES AT PALM JUMEIRAH” project, for a value of 27 million dirhams.
Mortgages amounted to AED 403 million through 165 transactions, including 43 mortgages for land, 197 mortgages for residential units, and 24 mortgages for buildings. The real estate market in Dubai witnessed the registration of 14 donations, worth 37 million dirhams.