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Friday, July 19, 2024

Dubai’s real estate sector booming

In the week ending January 12th, the Dubai Land Department reported 2,910 real estate transactions totaling AED 10.1 billion. Among these, 209 plots were sold for AED 2.19 billion, while 2,100 apartments and villas were sold for AED 4.84 billion. The top three transactions featured a land in Al Hebiah Sixth selling for AED 138.65 million, followed by a Business Bay land transaction at AED 105 million, and a Palm Jabal Ali land sale at AED 47.36 million. Al Hebiah Fifth led in transaction volume with 44 sales worth AED 163.91 million, followed by Hadaeq Sheikh Mohammed Bin Rashid and Madinat Hind 4. Top apartment and villa transfers included deals worth AED 66 million in Al Wasl, AED 46 million in Al Thanayah Fourth, and an AED 40.02 million apartment in Al Hebiah Fourth. Mortgaged properties for the week amounted to AED 2.28 billion, while 82 properties granted between first-degree relatives totaled AED 799 million.

(Courtesy ZAW)

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