Property deals worth AED 1.5 billion recorded in the week ending 28 April 2023

According to data issued by the Dubai Land Department (DLD), a total of AED 10.9 billion ($2.96 billion) worth of real estate deals, week ending Friday, April 28 and a total of 2,049 transactions.

172 land plots were sold for AED 1.58 billion, while 1,877 apartments and villas were sold for a combined AED 4.23 billion.

The top three sales were land in Dubai Maritime City for AED 131.23 million, land on The World Islands worth AED 167.45 million, and land in Downtown Dubai worth AED 185 million.

With 54 sales transactions totaling AED 171.17 million, Damac Lagoons recorded the most transactions for the week. Damac Hills 2 came in second with 25 sales transactions totaling AED 36.82 million, and Damac Hills third with 21 sales transactions totaling AED 90 million.

Two apartments on Palm Jumeirah were sold for AED 58 million and AED 55 million, respectively, while an apartment in Al Ras sold for AED 51 million making up the top three transfers of apartments and villas. Mortgaged property value totaled to AED 4.95 billion. 82 homes totaling AED 132 million were gifted between first-degree relatives.

Stay tuned for more market updates next week.