Dubai records $2.8 billion week ending 17 February 2023

It's been another busy week for Dubai Real Estate as property transactions valued at AED 10.4 billion in total during the week ending 17 February 2023. And a total sum of transactions was 2,702.

221 plots were sold for AED 1.42 billion and 1,866 apartments and villas sold for AED 4.63 billion.

The top 3 transactions were land in Business Bay sold for AED 150 million, followed by land that was sold for AED 75 million and AED 150 million in Business Bay.

Damac Hills recorded the most transactions last week with 126 sales worth AED 439.75 million, followed by Dubai Sports City with 20 property transactions worth AED 212.66 million, and Jabal Ali Village with 10 real estate deals worth AED 28 million in third place.

The top 3 transfers for apartments and villas were an apartment sold for AED 160 million in Jumeirah Bay Islands, second an apartment sold for AED 155 million in Dubai Marina and lastly an apartment for AED 123 million in Arjan.

The total amount of mortgaged properties for the week was AED 3.55 billion, with the highest being land in Warsan, mortgaged for AED 1 billion. 

252 properties were gifted between first-degree relatives worth AED 811 million.

For more Dubai real estate market updates stay tuned.