Real estate transactions in Dubai totaled $2.2 billion this week

This week, there were 2,574 property deals in Dubai. The Land Department says that more than $2.2 billion (AED8.1 billion) worth of property was sold in Dubai this week.

According to data from the land department, 221 plots were purchased for $321,2 million (AED1.18 billion), and 1,889 apartments and villas were bought for $1.3 billion (AED4.93 billion).

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Property in Jabal Ali was First purchased for $12.5 million (AED46.1 million), followed by a property in Wadi Al Safa 4 that sold for $12.3 million (AED45.01 million), and then the property in Al Thanyah Fourth that sold for $10.6 million (AED39m).

Al Hebiah Fifth had the most sales this week, with 112 sales worth $118.5m (AED433.61m). Al Jadaf came in second with 25 sales worth $15.7m (AED57.53m), and Jabal Ali First came in third with 21 sales worth $31.3m (AED115m).

One apartment in Al Raffa sold for $34 million (AED 125 million), one in Al Jadaf sold for $32.7 million (AED 120 million), and one in Island 2 sold for $31.6 million (AED 116 million).

The worth of mortgaged properties reached $411.1m (1.51bn) last week, while the value of 92 properties given to first-degree relatives was $136mm (AED498m).

It is a big drop from the week before when Dubai witnessed real estate and property deals worth $2.7 billion (AED10bn). There were 2,702 transactions.

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