Dubai property market tops Dhs7 billion in realty deals

Inayat-ur-Rahman, Deputy Business Editor

The real estate and properties transactions in Dubai valued at Dhs7.1 billion in total during the week. The sum of transactions was 1,746. 103 plots were sold for Dhs722.02 million, 1,116 apartments and villas were sold for Dhs2.05 billion.

The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.

Hadaeq Sheikh Mohammed Bin Rashid recorded the most transactions for this week by 28 sales transactions worth Dhs223.92 million, followed by Nad Al Shiba Third with 22 sales transactions worth Dhs55.3 million, and Al Hebiah Third with 8 sales transactions worth Dhs26 million in third place.

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The top three transfers for apartments and villas were an apartment was sold for Dhs202 million in Palm Jumeirah, an apartment was second in the list sold for Dhs190 million in Marsa Dubai, and thirdly it was an apartment sold for Dhs188 million in Burj Khalifa.

The sum of the amount of mortgaged properties for the week was Dhs4 billion, with the highest being a land in Marsa Dubai, mortgaged for Dhs2 billion.
86 properties were granted between first-degree relatives worth Dhs193 million.

Meanwhile, a leading real estate development company in the UAE, is organising a special sales’ day event at the Address Marina Hotel in Dubai on Saturday.

The company  has announced a special offer during the exclusive sales day, enabling buyers to purchase residential units in in Abu Dhabi and Dubai, at a 10% discount. The offer also includes 10% down payment and only 1% monthly payments. At the "Alexis Tower" project ,the discount given is up to 15%, with the same terms applied.

Islam Ahmed Suleiman, CEO, Reportage Properties said that the company is keen to provide more offers that suit various segments of customers, especially in light of the company's sufficient liquidity and the stability of its financial conditions. He stressed the confidence of buyers, especially in light of the progress achieved in the construction works in all projects ahead of schedule, in preparation for handing the units over.