Billion-Dollar Real Estate Sales Surge in Dubai

Real estate transactions in the Dubai Land Department for the current week amounted to more than 11.6 billion dirhams (about 3.16 billion dollars), according to the agency “WAM”.

The department registered 2,246 allegiance oaths worth AED10.19 billion, of which 226 land oaths worth AED5.76 billion and 2020 oaths for apartments and villas worth AED4.43 billion.

The most important land sales were AED 4 billion in Maktara district, followed by AED 631 million pledge in Layan 1 district, followed by AED 91 million pledge in Al Barsha district, south of the fourth. .

The fifth region of Al Habbiya led the regions in terms of the number of oaths, as it recorded 74 oaths of allegiance worth 198 million dirhams, followed by the city of Hind 4 with 34 oaths worth 44 million dirhams and third in Al Habibia IV with 27 contributions for amount of 251 million dirhams.

In terms of the most important sales of apartments and villas, the sale amounted to AED 76 million in the Palm Jumeirah area as the largest sale, followed by the sale of AED 58 million in the Palm Jumeirah area, and finally the sale of AED 50 million in the Palm Jumeirah area.

Al Barsha, south of the fourth district, led the districts in terms of apartment and villa sales as it registered 296 pledges of allegiance worth AED 265 million, followed by the Dubai Marina district with 185 pledges. 662 million dirhams and a third in Business Bay, where 154 allegiance oaths worth 252 million dirhams were recorded.

Mortgage loans totaled AED1.31 billion, of which 73 land mortgages totaled AED367.86 million and 322 villa and apartment mortgages totaled AED941.56 million.

In terms of donations, there were 68 donations worth AED 143.96 million, the most important of which was in the Dubai Marina area, worth AED 29 million, and another in the Burj Khalifa area, worth AED 21 million. million dirhams.

(1 USD = 3.67 AED)

Source: WAM