The state of activity and momentum in the real estate market in Dubai has continued, with the influx of investors and the increasing attractiveness of the emirate as a destination for finance, business, tourism and living.
Yesterday, real estate transactions at the Dubai Land Department recorded more than 3.05 billion dirhams, completed through 684 transactions. The department witnessed the registration of 526 sales worth 1.53 billion dirhams, including 119 sales of land, 364 sales of residential units, and 43 sales of buildings.
Wadi Al Safa 7 topped the region’s sales in terms of value with 339 million dirhams through 44 deals, second came Wadi Al Safa 5 with a value of 154 million dirhams resulting from 38 deals, third was the Business Bay area with 82 million dirhams through 46 deals, and fourth was the Dubai Hills area through 23 deals worth 65 million dirhams.
The market witnessed a sale deal for an off-plan residential apartment in the Dubai Marina area for 23 million dirhams, with an area of about 373 square metres. Another off-plan apartment in the Dubai Water Canal area was sold for 21 million dirhams.
The mortgages recorded a value of 1.16 billion dirhams, carried out through 129 transactions, including 38 mortgages for land, 144 mortgages for residential units, and 21 mortgages for buildings, the most prominent of which was a mortgage for a residential plot of land in the third Al Barsha area, worth 752 million dirhams. Besides 29 donations worth 368 million dirhams.