Houses and land worth $1.2 billion were sold in Dubai in one week

Buyers snapped up real estate in Dubai with a total value of 4.5 billion dirhams ($1.2 billion) in a week, the Dubai Land Department (DLD) said on Friday. 

The property includes 252 plots worth 1.1 billion dirhams, as well as 1,437 apartments and villas worth 2.47 billion dirhams. It was sold during the previous week.

The land plot in Palm Jumeirah was purchased for 60 million dirhams. It became one of the largest transactions in the emirate. Another land plot was sold in Hadaeq Sheikh Mohammed Bin Rashid for 38.79 million dirhams. 

Al Hebiah Fifth recorded the largest number of transactions in Dubai in the amount of 201.51 million dirhams, followed by Jabal Ali First with 57 transactions in the amount of 140.61 million dirhams, as well as Al Hebiah Fourth with 39 transactions in the amount of 332 million dirhams. 

The total value of mortgaged properties for the week amounted to 955.1 million dirhams.