Real estate transactions in the Dubai Land Department yesterday amounted to AED 2.68 billion, through 925 transactions. The department witnessed the registration of 679 sales worth AED 1.77 billion, including 50 land sales, 561 residential unit sales and 68 building sales.
Dubai Maritime City topped sales in terms of value with AED 198 million through 73 transactions, followed by the Palm Jebel Ali area with AED 123 million resulting from 5 transactions, and third was the Al Habiya IV area with AED 105 million through one transaction, and fourth was the Business Bay area with 35 transactions worth AED 82 million.
The real estate market recorded a sale deal for a plot of land in the Al Habiya IV area within the “Lanai Island” project worth AED 105 million, in addition to the sale of a villa off-plan in the World Islands area within the “Amalie Island” project worth AED 70 million.
Mortgages recorded a value of AED 530 million through 145 transactions, including 38 land mortgages, 143 residential mortgages, and 16 building mortgages. The market also witnessed the registration of 101 donations worth AED 387 million. It is worth noting that real estate sales in Dubai amounted to AED 321.77 billion since the beginning of this year until the end of last week’s trading, which confirms the significant increase in the sector’s momentum in the emirate.