Real estate transactions at the Dubai Land Department yesterday recorded more than 5.04 billion dirhams, through 1,836 deals.
The department witnessed the registration of 1,506 sales worth 4.25 billion dirhams, including 88 land sales, 1,286 residential unit sales, and 132 building sales.
Dubai Hills topped the sales in the areas in terms of value with AED 1.47 billion through 575 deals, followed by the Palm Deira area with a value of AED 416 million resulting from 35 deals, thirdly, the Nad Al Sheba 1 area with AED 375 million through 80 deals, and fourthly, the Palm Jebel Ali area with 13 deals worth AED 305 million.
The real estate market witnessed the sale of a residential plot of land in the Liwan area for AED 75 million, and a ready residential apartment was sold in the Jumeirah Lakes Towers area for AED 30 million.
Mortgages recorded AED 560 million through 214 transactions, including 42 land mortgages, 158 residential unit mortgages, and 22 building mortgages. The market also witnessed the registration of 116 donations worth AED 230 million.