During the holy month of Ramadan, real estate market sales in Dubai recorded a new record of 36.2 Billion Dirhams, resulting from 12,630 transactions, a growth of 13%, in terms of value, compared to the same month last year, according to data from the Land Department in the emirate.
The “Zabeel First” area topped the list of sales with a value of 2.29 Billion Dirhams, resulting from 687 transactions, then “Palm Jumeirah” with about 1.74 Billion Dirhams, achieved through 153 transactions, and “Business Bay” came third with 1.68 Billion Dirhams, through 839 transactions.
During the holy month, mortgages recorded 13.4 Billion Dirhams, achieved through 2,570 procedures, the highest of which was in the “Hasyan II” area, with a value of 3.2 Billion Dirhams, resulting from one procedure, then “First Commercial Center” came second, with one Billion Dirhams, also through one procedure. And thirdly, “Palm Jumeirah” with about 917 Million from 48 mortgages.
Finally, donations reached 3.47 Billion Dirhams, achieved through 557 measures, the highest of which came in “Palm Jumeirah” with 1.16 Dirhams through 17 measures, then “Dubai Silicon Oasis” came second with 458 Million, resulting from 18 measures, followed by “Business Bay.” Thirdly, with 306 Million, through 68 procedures.
With these results, the total transactions in the Dubai real estate market, during Ramadan, recorded 53 Billion, resulting from 15,757 procedures, according to “Dubai Land” data.
Sales Distribution
Sales of residential units (apartments, villas/buildings) touched the barrier of 22.6 Billion Dirhams, resulting from 11,268 transactions. The “Dubai Water Canal” area topped the first place, with the sale of a residential apartment worth 140 Million, followed second by “Island 2” with about 70 Million, resulting For selling a residential apartment, and thirdly, “Jumeirah II” for selling a residential apartment for 65 Million.
In terms of land, its value approached 13.5 Billion Dirhams, achieved through 1,361 deals, the highest of which was recorded in the “Nad Al Sheba Third” area with a value of 250 Million, then another in “Al Habiyah Fifth” with 197 Million, and a third in “Mankhool” with about 182 Million.