Dubai’s realty deals reach Dhs5.4 billion

A total of 1,617 real estate and properties transactions were valued at Dhs5.4 billion during the week ending 29 July 2021, according to Dubai Land Department (DLD).

The DLD weekly report said 88 plots were sold for Dhs620.22 million, 1,135 apartments and villas were sold for Dhs2.27 billion.

The top three transactions were a land in Island 2 sold for Dhs121 million, followed by a land that was sold for Dhs50.27 million in Palm Deira, and a land sold for Dhs121 million in Island 2 in third place.

Nad Al Shiba First recorded the most transactions for this week by 19 sales transactions worth Dhs66.09 million, followed by Hadaeq Sheikh Mohammed Bin Rashid with 9 sales transactions worth Dhs132.16 million, and Jumeirah First with 9 sales transactions worth Dhs62 million in third place.

The top three transfers for apartments and villas were an apartment was sold for Dhs405 million in Marsa Dubai, an apartment was second in the list sold for Dhs246 million in Business Bay, and thirdly it was an apartment sold for Dhs228 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was Dhs3 billion, with the highest being a land in Al Wasl, mortgaged for Dhs1 billion.

24 properties were granted between first-degree relatives worth Dhs73 million.

Dubai residential property prices rose in April-June for a second straight quarter as demand picked up after the pandemic, consultancy Knight Frank said on recently.

Average transacted prices rose by almost 1% in the second quarter of this year, following a 0.5% rise in the first, said Faisal Durrani, Knight Frank’s Head of Middle East Research.

WAM