Burj Khalifa Apartment sells for Dh317 Million

by Editor

As Dubai’s real estate purchases surpass Dh5.5 billion in a week, a Burj Khalifa apartment sells for Dh317 million.

Major real estate deals were also made on the Palm Jumeirah and Al Wasl.

According to figures from the Dubai Land Department, in the week ending July 15, there were 5.5 billion dirhams’ worth of real estate transactions in Dubai.

The emirate recorded 1,614 transactions, including the sale of 1,004 apartments and villas for Dh2.43 billion and the sale of 186 plots for Dh594.72 million.

According to the DLD weekly report, the top transactions were a property in Ras Al Khor Industrial First that sold for Dh32.91 million and a plot of land in Al Merkadh that sold for Dh19.41 million.

The highest sales this week were made by Al Hebiah Fifth, with 105 transactions totaling Dh262.43 million. Jabal Ali First came in second with 35 deals totaling Dh101.75 million and Al Yufrah 2 with 12 transactions totaling Dh15 million.

Apartment and villa transfers include the sale of a Burj Khalifa apartment for Dh317 million, an Al Wasl apartment for Dh240 million, and a Palm Jumeirah apartment for Dh191 million.

The total value of properties with mortgages for the week was Dh2.06 billion.

According to the Sharjah Real Estate Registration Department, there were 747 real estate sales in 106 different areas of Sharjah in June. Together, these sales were worth a total of Dh1.9 billion.

The data includes 358 mortgage deals for Dh764 million.

Abdulaziz Ahmed Al Shamsi stated that despite being affected by the state of the world economy since last February, the industry has continued to expand and recover at a favorable rate. It has benefited from investors’ greater desire to engage in real estate deals. Because real estate is a secure sanctuary for money and a great way to live comfortably, businesses and individuals choose to invest in it.

“These results are in line with the strategic vision of the Emirate of Sharjah in the areas of economic and social development, enhancing financial sustainability, stimulating the macroeconomy, and providing adequate housing for citizens and residents alike.”

The department completed 2,521 transactions in all over the last month, with 747 of those being sales and accounting for 29.6% of the total. Mortgage transactions made up 358, or 14.2% of all transactions, while the remaining transactions made up 1,416, or 56.2% of all transactions.

Residential, commercial, industrial, and agricultural areas made up the more than 6 million square feet of real estate sales in the emirate in June.

There were 239 transactions involving unoccupied land, broken down by kind of property (32 per cent). Separated towers were traded 331 times, while constructed lands were traded 177 times, or 23.7% of the time.

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