Weekly sales in Dubai’s real estate market top AED12.9 billion.

by Editor

The Dubai Land Department reported 3,474 real estate sales totaling AED9.62 billion for the week ending November 4, 2022. (DLD).

For a total of AED2.38 billion, 348 plots changed hands, while AED7.23 billion was spent on the acquisition of 3,126 flats and villas.

Two parcels in World Islands sold for AED350 million, another in Island 2 went for AED95 million, and a third parcel in Al Safa 2 sold for AED74 million.

Al Hebiah Fifth saw the highest activity this week with 72 sales totaling AED176 million, followed by Jabal Ali with 122 sales at AED429 million. Al Hebiah Fourth saw the least activity with 24 sales at AED215 million.

For the week as a whole, mortgages on real estate totaled AED1.33 billion, with a single plot of land in Al Hamriya fetching the highest mortgage amount at AED150 million.

According to the DLD, 79 properties worth a total of AED2.12 million were transferred between members of the same family.

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