The Dubai Land Department (DLD), in their weekly report, have announced that Dubai recorded AED 9.4 billion in real estate transactions for the week ending on 12 May, 2023.
This figure does not come as a surprise for the metropolitan, where the real estate market is on a boom. As per the report, a total of 3112 real estate properties were sold in the city during the week alone. Among these, 170 plots were sold for AED1.89 billion and the remaining AED5.34 billion is attributed to 2261 apartments and villas.
The report noted that the top three transactions - AED 300 million, AED 148.25 million and AED 139.49 million - were all ascribed to plots sold in Al Sufouh 2, Saih Shuaib and Island 2 respectively.
However, this does not take away from the observable consumer preference towards apartments and villas in Dubai. The highest transfer rate among them goes to an apartment sold for AED 150 million in the prestigious Burj Khalifa. This was followed by an apartment sold for AED 60 million in Palm Jumeirah and another for AED 53 million in Umm Suqeim 2.
The combined amount of mortgaged properties during the week in Dubai was AED 1.89 billion, with the highest transaction being a land in Al Karama for AED 234 million.
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