Dubai records $790mln real estate transactions in a week

Dubai recorded a total of AED2.9 billion real estate and properties transactions during the week ending 5th November 2020 with transactions reaching 1,241, according to figures of the Department of Land and Property in Dubai.

A total of 44 plots were sold for AED176.48 million, 854 apartments and villas were sold for AED1.49 billion, said the weekly report.

The top three transactions were land in Al Merkadh sold for AED16.33 million, followed by a land that was sold for AED12.6 million in Al Barsha South Fourth, and land sold for AED16.33 million in Al Merkadh in third place.

Jabal Ali First recorded the most transactions for this week by 16 sales transactions worth AED27.49 million, followed by Nad Al Shiba Third with 5 sales transactions worth AED12.07 million, and Al Merkadh with 5 sales transactions worth AED61 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED257 million in Marsa Dubai, an apartment was second in the list sold for AED102 million in Burj Khalifa, and thirdly it was a villa sold for AED96 million in Al Hebiah Fourth.

The sum of the amount of mortgaged properties for the week was AED1 billion, with the highest being land in Nadd Hessa, mortgaged for AED 198 million.

A total of 43 properties were granted between first-degree relatives worth AED142 million, according to the Department of Land and Property in Dubai.