Dubai’s real estate sector started the current month of October with strong performance, and real estate transactions in the Dubai Land Department yesterday recorded more than AED 3.62 billion through 1,090 transactions. The department witnessed the registration of 917 sales worth AED 2.96 billion, including 94 land sales, 665 residential unit sales and 158 building sales.
The First Commercial Centre area topped the sales areas in terms of value with AED 409 million through a single transaction, followed by the Business Bay area with a value of AED 352 million resulting from 43 transactions, and third was the Dubai Investment Park 2 area with AED 304 million through 105 transactions, and fourth was the Jumeirah Bay area through a single transaction worth AED 175 million.
The real estate market recorded the sale of a commercial plot of land in the First Trade Centre area for AED 409 million, covering 1,858 square metres, in addition to the sale of a residential plot in Jumeirah Bay for AED 175 million, covering 1,378 square metres, and a residential apartment was sold in the Business Bay area for AED 19 million. Mortgages recorded a value of AED 575 million through 152 transactions, including 50 mortgages for land, 91 mortgages for residential units, and 14 mortgages for buildings. The market also witnessed the registration of 21 donations worth AED 87 million.