According to data published by the Dubai Land Department (DLD), a total of 3,050 real estate transactions worth AED 10.4 billion ($2.83 billion) dirhams were made in Dubai in the week ending May 5.
The DLD report showed that 189 land plots were sold for AED 1.19 billion ($320 million), 2239 apartments and villas — for AED 5.11 billion ($1.39 billion).
The three largest transactions were the sale of a land plot in Al Tanyah 4 (Emirates Hills) for AED 52 million ($14.16 billion), a plot for AED 40.62 million ($11.06 billion) in Saih Shuaib 2 (DIP), and land for AED 35.36 million ($9.63 billion) in Palm Deira in third place.
In the area of Al Hebiah Fifth (Golf City), the largest number of transactions was recorded this week: 63 purchase and sale transactions worth AED 188.2 million ($51.52 million), followed by Madinat Hind 4 with 22 purchase and sale transactions worth AED 29.01 million ($7.9 million) and Jabal Ali First with 16 purchase and sale transactions worth AED 58 million ($15.79 million) in third place.
The top three deals for the sale of apartments and villas included a property sold for AED 90 million ($24.51 million) in Al Merkadh (MBR City), an apartment for AED 78 million ($21.24 million) in Jumeirah Second and an apartment sold for AED 67 million ($18.25 million) in the tallest building mira Burj Khalifa.
The amount of real estate purchased on credit for the week amounted to AED 3.69 billion ($1 billion), while the largest transaction on credit was the sale of a plot in Al Barshaa South 3 for AED 653 million ($177.82 million).