Weeklong realty transactions worth Dhs6.6b conducted in Dubai

A total of 2,078 real estate transactions worth Dhs6.6 billion were conducted during the week ending Feb.11, 2022, according to figures released by the Dubai Land Department.

A total of 280 plots were sold for Dhs1.42 billion, 1,275 apartments and villas were sold for Dhs2.54 billion.

The top three transactions were a land in Al Mamzer sold for Dhs132.4 million, followed by a land that was sold for Dhs61 million in Al Thanayah Fourth, and a land sold for Dhs132.4 million in Al Mamzer in third place.

Jabal Ali First recorded the most transactions for this week by 89 sales transactions worth Dhs267.91 million, followed by Al Hebiah Fifth with 87 sales transactions worth Dhs195.83 million, and Al Hebiah Fourth with 20 sales transactions worth Dhs167 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs360 million in Burj Khalifa, an apartment was second in the list sold for Dhs269 million in Marsa Dubai, and thirdly it was an apartment sold for Dhs204 million in Business Bay.

The sum of the amount of mortgaged properties for the week was Dhs2.41 billion, with the highest being a land in Palm Jumeirah, mortgaged for Dhs412 million.

107 properties were granted between first-degree relatives worth Dhs309 million. Meanwhile Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, ended 2021 on a high note by recording several outstanding achievements across its different divisions, which includes attracting new clients and companies, the selling out of projects, signing top-level partnerships and launching unique projects.

The total number of companies now operating out of Dubai South reached 4,600, attracting more than 700 new companies. Moreover, the total number of people working out of Dubai South will reach 20,848 individuals by the end of 2021.

Master developer Dubai South Properties handed over almost all its units at The Pulse, an urban mixed-use development comprising 1,400 apartments and 240 townhouses, and thanks to the project’s success, the company launched The Pulse Villas, with the first and second phase has already sold out.

Following the inauguration of Expo 2020 Dubai, and based on popular demand, The Pulse Beachfront was launched, and the company succeeded in selling out phases one and two to interested investors, with the final phase due to launch in Q1 2022.

The Residential District Villa Plots (Baiti) was also launched, and the company also sold out all the plots on sale. The Pulse community development was launched in phases and continues to grow rapidly, attracting end-users and new buyers due to its unique features, strategic location and the company’s track record in delivering on its promises.

The Residential District currently boasts a population of over 25,000 residents, who are enjoying the unique lifestyle and amenities that it offers. Moreover, Sakany, Dubai South’s first leasehold staff accommodation that emphasises resident welfare has an occupancy rate of 99 per cent.

The company also launched another project, The Avenue, a limited number of commercial freehold plots that can be purchased on a payment plan and developed by investors for commercial use.

As a result of the optimum services and business solutions it offers to customers, the Business Park at Dubai South recorded outstanding numbers in 2021 compared to 2020 by leasing 243,805 square feet of space, and retaining 85 per cent of the companies there.

As the destination where the Expo is being held, the Dubai South master-development has been garnering all the attention. But, away from the Expo, the ‘city-within-a-city’ has been doing well on other counts too. For one, it has created more residential options to choose in Dubai, by delivering 1,400 apartments and 240 townhouses at its ‘The Pulse’ community. “Following the inauguration of Expo 2020 Dubai, and based on popular demand, The Pulse Beachfront was launched, and the company succeeded in selling out phases one and two, with the final phase due to launch in Q1, 2022,” Dubai South said in a statement. Plots sold to build villas were also sold out.

The Residential District within Dubai South now hosts 25,000 people, while the first purpose-built staff accommodation facility there has 99 per cent occupancy.

The number of companies now operating out of Dubai South has reached 4,600, taking in more than 700 new companies last year. The number of people working out of the mega-development totalled 20,848 by end of last year.

Dubai South, which is a sum of many parts, saw the Mohammed Bin Rashid Aerospace Hub come up with the Dubai Helipark, a dedicated helicopter centre and the largest of its kind. It accommodates eight helicopters to facilitate transport between business centres and tourist destinations across the UAE.

Phase one is now operational, and the second phase will be completed later in the year.