Wednesday, February 28, 2024

10.9 billion dirhams in Dubai real estate transactions in one week


Dubai (Etihad)

Real estate transactions in Dubai’s land sector this week totaled over AED 10.9 billion. The department recorded pledges of 5.13 billion dirhams in 1979, of which 263 pledged allegiance to land worth 1.46 billion dirhams, and 1,716 pledges of allegiance to flats and villas worth 3.67 billion dirhams. The most prominent land sale was in the Burj Khalifa area at 167 million dirhams, followed by the first Al Barsha area at 71 million dirhams, followed by the Palm Jumeirah area at 50 million dirhams. Among the regions in terms of number of pledges, Al Habia Fifth District ranked first with 130 pledges worth 328 million dirhams, followed by Jebel Ali First Zone with 32 pledges worth 93 million dirhams, Al Yafra 2 with 24 pledges worth 28 million dirhams. As for the most important sales of apartments and villas, 39 million dirhams were pledged in the Palm Jumeirah area, followed by 35 million dirhams in the Palm Jumeirah area, and finally 31 million dirhams in the Al-Marqat area. Business Bay region topped the regions with 195 transactions worth 297 million dirhams for apartments and villas, followed by Warzan region with 135 commitments worth 42 million dirhams and Burj Khalifa third with 133. Commitments worth Dhs 352 million. Mortgages recorded a value of 5.09 billion dirhams, including 54 land mortgages worth 4.26 billion dirhams and 357 mortgages for villas and apartments worth 834.38 million dirhams, the main of which was in Al-Marqat area. One is worth 4 billion dirhams and the other is 112 million dirhams in Wadi Al-Safa 5. In terms of donations, 119 donations worth 719.57 million dirhams were recorded, the most important of which were 196 million dirhams in Al-Rafa area and another worth 85 million dirhams in Al-Suq al-Kabeer area.

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Bill Dittman
Bill Dittman
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