Dubai’s weeklong real estate transactions valued at Dhs6.8b

The real estate and properties transactions valued at AED6.8 billion in total during the week ending March 25, 2022, according to Dubai Land Department (DLD).

The DLD weekly real estate report said the sum of transactions was 2,461.

330 plots were sold for Dhs1.65 billion, 1,653 apartments and villas were sold for Dhs3.42 billion.

The top transactions were a land in Nadd Hessa sold for Dhs189.65 million, followed by a land that was sold for Dhs90.07 million in Palm Jumeirah.

Al Hebiah Fifth recorded the most transactions for this week by 164 sales transactions worth Dhs335.52 million, followed by Al Merkadh with 43 sales transactions worth Dhs324.36 million, and Wadi Al Safa 5 with 26 sales transactions worth Dhs113 million in third place.

The top three transfers for apartments and villas were an apartment that was sold for Dhs459 million in Marsa Dubai, an apartment sold for Dhs444 million in Burj Khalifa, and an apartment sold for Dhs278 million in Business Bay.

The sum of the amount of mortgaged properties for the week was Dhs1.54 billion, with the highest being a land in Al Qusais First, mortgaged for Dhs320 million. 124 properties were granted between first-degree relatives worth Dhs210 million.

Earlier the real estate and properties transactions valued at Dhs13.4 billion in total during the week ending March 11, 2022, according to the Dubai Land Department (DLD).

The weekly DLD report said the sum of transactions was 2,333. 245 plots were sold for Dhs2.09 billion, 1,542 apartments and villas were sold for Dhs3.29 billion. Among the top transactions were a land in Trade Centre Second sold for Dhs198.15 million, followed by a land that was sold for Dhs160.14 million in Palm Jumeirah.

Al Merkadh recorded the most transactions for this week by 74 sales transactions worth Dhs790.01 million; followed by Al Hebiah Fifth with 53 sales transactions worth Dhs113.52 million; and Wadi Al Safa 5 with 33 sales transactions worth Dhs170 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs392 million in Marsa Dubai; an apartment was second in the list sold for Dhs359 million in Burj Khalifa; and thirdly it was an apartment sold for Dhs287 million in Al Wasl.

The sum of the amount of mortgaged properties for the week was Dhs3.83 billion, with the highest being a building in Palm Jumeirah, mortgaged for Dhs1 billion.

145 properties were granted between first-degree relatives worth Dhs4 billion.

International Property Show: Investors from Spain, Austria, Serbia and Montenegro, USA, Canada, Equador and Mexico will take part in the International Property Show (IPS) 2022. To be held March 24 – 26, 2022 in Dubai International Exhibitions and Conventions Centre, IPS 2022 serves as a powerful platform that connects local and international real estate developers with real estate investors from all over the world.

“Global city status, excellent infrastructure, world-class facilities and easy visa options are just a few among several factors that attract global investors to Dubai property market,” said Dawood Al Shezawi, President of Strategic Exhibition and Conference and Head of Organizing Committee of International Property Show 2022. “We are extremely delighted for the great response of international investors to take part in the show and explore the investment opportunities offered.”

Some of the key delegates visiting include David Moya Allvarez, CEO- Business Principal Properties, Spain; Carlos Martinez-Jarabo, CEO Admentum, Spain; Martin Moassler, Managing Director Science Park Graz, Austria; Slavisa Pesic, Owner Riznica, Serbia; Veljko Nikolic, CEO, Pegaz Real Estate, Serbia; Nikola Perovicazz; Managing Director, SEEUROPE CONSULT, Montanegro; Santiago Gangotena, Founder and Chanceller Universidad San Franscisco De Quito, Equador; Daniel Silverman Vice President FDI, Investissement Québec International, Canada; Mario García Dávila, Co-Founder & Managing Partner, AngelHub Ventures, Mexico; Fernanda Cardoso, Realtor Tampa bay key, USA and Luciane Serifovic, CEO Luxian International Realty, USA.

Al Shezawi said: “These investors are part of an international delegation of more than 600 global High Net Worth Individuals (HNI) real estate investors who will also take part in IPS 2022. The global delegation programme aims at exploring new opportunities for real estate investment in Dubai, where investors will undergo a series of intensive presentations and meetings.”

Representing various countries in Europe, North America, Latin America, Asia and Africa, the delegation will represent a qualitative addition to the portfolio of visitors to IPS 2022.

As per reports Dubai’s real estate market recorded 84,772 transactions representing a value of Dhs300 billion in 2021. There was a 65 per cent growth in the number of transactions and a 71 per cent increase in value compared to 2020.

WAM