The Dubai Land Department concluded, the penultimate week of 2024, with a mounting momentum in real estate disposals, for an exceptional year in sales, mortgages, and donations, after the weekly disposals reached 22.8 billion dirhams, resulting from 5104 real estate deals.
According to the data and figures, published by the Department of Lands and Properties through its website on Friday, real estate sales alone recorded more than 12.84 billion dirhams, resulting from 4024 transactions, including land, buildings, villas, residential units, and other sales.
The highest sales were recorded in the week, for several projects in different areas in Dubai, with a value of more than 3.9 billion, followed by “DAMAC Sun City”, 148 deals, worth AED 450.9 million, and 16 deals were registered in the “Palm Jebel Ali Al-Safaa C” area with 336.2 million.
According to the department, the value of real estate mortgages in the week amounted to 9.1 billion dirhams, for 928 transactions, the top of which was recorded in the «Arawah Front Residences” area of 4.3 billion dirhams resulting from a project of 34 units, followed by several different projects with 3.6 billion dirhams. In comparison, the land value in the “Rawda Plaza” area was 165 million dirhams.
The value of donations during a week in Dubai reached 833 million dirhams, resulting from 152 transactions, the highest of which was 549 million, while in the area of «Mohammed bin Rashid Al Maktoum City District One Face 2 Villas» a transaction was recorded with 31 million, and in the area of «Nad Al Sheba Gardens Phase 6», the value of one transaction was 17.2 million dirhams.
It is worth mentioning that the total transactions of Dubai Real Estate since the beginning of this year until mid-December amounted to AED 719 billion through 22,045 disbursements, compared to AED 634 billion resulting from 166,400 transactions, for the same period last year, an increase of 13.4% in value and 33%, in terms of the number of transactions respectively.