AED7 bn of weeklong real estate transactions recorded in Dubai

Dubai saw the completion of 1,850 real estate transactions at over AED7 billion during this week, according to the Dubai Land Department (DLD).

The DLD weekly report said 166 plots were sold for AED1.01 billion, along with 1684 apartments and villas for AED 3.83 billion.

The top land transactions were for Mohammed Bin Rashid Gardens, AED144 million, Nad Al Shaba, AED79 million and Jebel Ali, AED77 million.

Business Bay topped the list in terms of the number of villa and apartment sales, 285 worth AED624, followed by Dubai Marina, 206 worth AED575 million.

The sum of the amount of mortgaged properties for the week was AED1.97 bn. In addition, 71 properties were granted between first-degree relatives worth AED246.86 million.