$3bn of Dubai property deals in a week of Ramadan

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The Dubai real estate sector saw almost $3bn (AED10.777bn) of property deals this week, according to information from the city land department.

In total there were 3,035 real estate transactions this week.

The DLD report said that 158 plots were sold for AED1.27bn, while apartment and villa sales stood at 2,261, totalling AED5.11bn.

Dubai real estate sales in Ramadan

The top three sales for land were a plot in Al Khairan First worth AED157.08m, land worth AED67m in Island 2, and a AED59m plot in The World Islands.

Al Hebiah Fifth recorded the most transactions for this week with 52 sales transactions worth AED165m, followed by Madinat Hind 4 with 21 sales transactions worth AED26.78m, and Jebel Ali First with 14 sales transactions worth AED60m in third place.

The top three apartment and villa transfers were an AED82m villa, a AED57m apartment and a AED55m apartment in Palm Jumeirah.

The value of mortgaged properties for the week settled at AED3.8b.

Meanwhile, 123 properties were gifted between first-degree relatives worth AED597m.

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Source: Arabian Business

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