Dubai property market tops Dhs4 billion in realty deals

Inayat-ur-Rahman, Deputy Business Editor

The real estate and properties transactions valued at Dhs4.31 billion in total during the week.

The sum of transactions was 1,445.

145 plots were sold for Dhs527.53 million, 877 apartments and villas were sold for Dhs1.55 billion.

The top three transactions were a land in Al Khawaneej First sold for Dhs40.25 million, followed by a land that was sold for Dhs10.39 million in Me'Aisem First, and a land sold for Dhs40.25 million in Al Khawaneej First in third place.

Al Hebiah Fourth recorded the most transactions for this week by 75 sales transactions worth Dhs259.36 million, followed by Al Hebiah Third with 15 sales transactions worth Dhs42.03 million, and Nad Al Shiba Third with 14 sales transactions worth Dhs34 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs168 million in Al Merkadh, an apartment was second in the list sold for Dhs 142 million in Marsa Dubai, and thirdly it was an apartment sold for Dhs 134 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was 2 billion, with the highest being a land in Al Qusais Industrial First, mortgaged for Dhs570 million.

Islam Ahmed Suleiman, COO, Reportage Properties told Gulf Today that there are good indications of improved demand in Dubai real estate market, especially for quality projects.

He pointed out that his company is interested in launching many attractive offers, covering all their projects in Abu Dhabi and Dubai, so as to meet the requirements of their customers.

The developer has launched a special offer for the Alexis Tower project, which is being developed on Sheikh Zayed Road in Downtown Jebel Ali, Dubai.

The offer provides buyers with opportunities to own studio units worth Dhs 399,000, and a commitment to pay only Dhs 8,000 per month, without any down payment.