A remarkable week concluded in Dubai's thriving real estate sector, culminating in 3,112 property transactions valued at an impressive Dh9.4 billion according to figures released by the Dubai Land Department (DLD) on Friday.. This impressive figure affirms the city's robust property market and exemplifies the unwavering interest of investors in Dubai's real estate offerings.
170 land transactions were successfully conducted during this period, totalling Dh1.89 billion. Further adding to the real estate vibrancy, a staggering 2,261 apartments and villas were traded for a combined value of Dh5.34 billion. These figures testify to the ongoing appeal of Dubai's dynamic property scene.
The most prominent transactions of the week were three land sales, all offering promising development opportunities. The top sale was a plot in Al Sufouh 2 that commanded a price of Dh300 million. This was followed by a plot in Saih Shuaib 4, which was purchased for Dh148.25 million, and a plot in Jumeirah Island 2, which garnered Dh128 million.
Al Hebiah Fifth took the limelight, registering the highest number of transactions for the week, with 57 sales amounting to Dh139.49 million. Not far behind, Madinat Hind 4 followed with 23 sales transactions, accumulating Dh29.24 million. Al Hebiah Third made 13 sales transactions, bringing in Dh56 million.
In the realm of apartments and villas, the top three transfers were a stunning Dh150 million apartment in the iconic Burj Khalifa, a luxurious Dh60 million apartment in Palm Jumeirah, and a prime property in Umm Suqeim 2, sold for Dh53 million.
The week also witnessed a total of Dh1.89 billion in mortgaged properties, with the highest being a plot in Al Karama, mortgaged for a substantial Dh234 million. Additionally, 144 properties exchanged hands between first-degree relatives, with a total worth of Dh273 million.
This enthralling week in Dubai's real estate market encapsulates the city's enduring allure for investors, from individual homebuyers to large-scale developers. There's never been a better time to invest in Dubai's real estate market.
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