Dubai real estate registers $4 billion in transactions during the last week of 2023, including a $97 million property in Business Bay.
According to data released by the Dubai Land Department, the real estate sector in Dubai witnessed land and property transactions totaling AED 14 billion ($4 billion) in the final week of 2023.
Throughout the week ending on December 29, a total of 3,063 transactions took place.
Among these, 216 plots were sold for AED 4.38 billion ($1.2 billion), and 2,126 apartments and villas were sold for AED 5.38 billion ($1.5 billion).
The top three land transactions were:
- A plot in Zaabeel Second sold for AED 600 million ($163 million)
- Land in Al Thanyah Fifth sold for AED 456.52 million ($124 million)
- A plot in Wadi Al Safa 4 sold for AED 213.4 million ($58 million)
The total value of mortgaged properties for the week was AED 3.17 billion ($863 million), with the highest being a plot in Zaabeel Second, mortgaged for AED 600 million ($163 million).
203 properties were granted between first-degree relatives, amounting to AED 2 billion ($545 million).
Publish Date: 30 Dec 2023
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-records-4bn-of-transactions-in-final-week-of-the-year-including-97m-business-bay-property
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