Last week the Dubai real estate market closed AED 10.4 billion ($2.85 billion) worth of real estate deals with a total of 2,793 property transactions. 222 were land plots sold for AED 1.8 billion, and 2,086 apartments and villas worth AED 4.56 billion.
Review of the Dubai real estate market
The two largest land sales were in Business Bay for AED 456.25 million and a building in Emirates Hills that went for AED 150 million.
This week, Jumeirah Islands had 93 transactions worth AED 246.61 million. Damac Hills 2 with 33 sales totaling AED 43.22 million, and Victory Heights with 30 property sales worth AED 261 million.
The top three sales of apartment and villas were a property in Al Barari that went for AED 170 million, an apartment in Jumeirah Bay for AED 137 million, and an apartment in Jumeirah Bay Island sold at AED 130 million.
The total value of mortgaged properties for the week was AED 3.96 billion, with land in Mirdif receiving the highest mortgage amount of AED 1 billion.
Stay tuned next week for more Dubai market updates.
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