The real estate market in Dubai continues to recover, supported by the influx of wealthy people and the increasing attractiveness of the emirate as a destination for finance, business and investment, and a preferred city for living and working. Yesterday, real estate transactions in Dubai recorded 5.56 billion dirhams through 1,184 deals.
945 sales worth 3.48 billion dirhams were recorded, including 129 sales of land, 730 sales of residential units, and 86 sales of buildings. Palm Deira topped sales in the regions in terms of value with 302 million dirhams through 29 deals, followed by the Palm Jumeirah area with a value of 276 million dirhams resulting from 6 deals, and thirdly, the Nad Al Sheba First area with 243 million dirhams through 26 deals, then the Palm Jumeirah area through 3 deals. With a value of 228 million dirhams.
The real estate market witnessed the sale of a commercial plot of land in the World Islands area within the “ZAYA ZUHA ISLAND” project for a value of 61 million dirhams, with an area of about 25 thousand square feet, equivalent to 2,362 dirhams per square foot.
Mortgages amounted to 1.71 billion dirhams through 168 transactions, including 55 mortgages for land, 94 mortgages for residential units, and 23 mortgages for buildings, and 71 donations worth 376 million dirhams were recorded.