Real estate transactions in Dubai climb to $462.8 million on Wednesday as property demand soars

On 22 June, Dubai witnessed the completion of 486 sales transactions worth AED 1.31 billion, in addition to 93 mortgage deals worth AED 360.57 million, and 10 gift deals amounting to AED 30.74 million

Dubai’s real estate market recorded transactions worth $462.8 million (AED 1.7 billion) on Wednesday, 22 June, up from $380 million (AED1.2 billion) on Monday, 20 June, as the strong momentum in property demand continues.

On 22 June, Dubai witnessed the completion of 486 sales transactions worth AED 1.31 billion, in addition to 93 mortgage deals worth AED 360.57 million, and 10 gift deals amounting to AED 30.74 million, according to data released by Dubai’s Land Department (DLD).

The sales included 424 villas and apartments worth AED 1.08 billion, and 62 land plots worth AED 231.57 million.

Meanwhile, mortgages completed on Wednesday included 77 villas and apartments worth AED 187.14 million and 16 land plots valued at AED 173.44 million, bringing the total realty transactions of today to more than AED 1.7 billion.

Last week, Dubai recorded real estate and property transactions worth $1.8 billion (AED 6.7 billion) in total during the week ending Friday, 17 June.

The sales included 213 plots worth AED 1.03 billion, as well as 1,652 apartments and villas worth AED 3.8 billion.

The top three transactions included land in Palm Jumeirah sold for AED 53.85 million, followed by land sold for AED 45.1 million in Al Barsha 1, and land sold for AED 53.85 million in Palm Jumeirah.

Al Hebiah Fifth recorded the most transactions this week with 75 sales transactions worth AED 161.08 million, followed by Jabal Ali First with 37 sales transactions worth AED 122.87 million, and Al Merkadh with 30 sales transactions worth AED 301 million.

The top three transfers for apartments and villas were an apartment was sold for AED 436 million in Marsa Dubai; an apartment sold for AED 431 million in Burj Khalifa, and an apartment sold for AED 428 million in Palm Jumeirah.

The sum of mortgaged properties for the week was AED 1.67 billion, with the highest being land in Al Karama mortgaged for AED 182 million.

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