Dubai Real Estate Sees $3.5 Billion in Weekly Property Sales with $24 Million Sale of Barsha Apartment.

17 Sep, 2023

Dubai Real Estate Sees $3.5 Billion in Weekly Property Sales with $24 Million Sale of Barsha Apartment.

According to the Dubai Land Department, the real estate sector in Dubai experienced robust activity this week, with AED 12.7 billion (approximately $3.5 billion) in real estate transactions. During the week ending on September 15, a total of 2,329 real estate transactions took place.

Among these transactions, 549 plots were sold for AED 4.25 billion ($1.2 billion), while 1,780 apartments and villas were purchased for AED 3.94 billion ($1.1 billion). The top three land transactions included the sale of a plot in Marsa Dubai for AED 622.91 million ($170 million), another plot sold for AED 180 million in Business Bay, and a third plot in Marsa Dubai sold for AED 150 million ($41 million).

In terms of sales transactions, Al Hebiah Fifth led the way with 123 transactions totaling AED 527.18 million ($144 million), followed by Madinat Al Mataar with 113 transactions worth AED 542.17 million ($148 million), and Madinat Hind 4 with 111 transactions valued at AED 161.9 million ($44 million).

The top three apartment and villa transfers included the sale of an apartment in Al Barsha First for AED 88 million ($24 million), another apartment in Palm Jumeirah sold for AED 75 million ($20 million), and a third property in Al Thanayah Fourth was sold for AED 64.5 million ($18 million).

Additionally, the total value of mortgaged properties for the week amounted to AED 3.88 billion ($1 billion), and there were 165 properties granted between first-degree relatives, totaling AED 670 million ($182 million).