Weekly real estate transactions in Dubai stand at $1 billion

Weekly real estate transactions in Dubai stand at $1 billion

The Dubai Land Department's weekly report states, 1,400 real estate and property transactions amounting to $1 billion were registered in Dubai during the last week ending 26 November 2020.

60 plots of land were sold for $112 million and 944 apartments and villas were sold for $430 million, the report points out.

The top three transactions were two plots of land in Hadaeq Sheikh Mohammed Bin Rashid sold for $14 million each and a land in Al Thanyah Fourth sold for $11.7 million.

Hadaeq Sheikh Mohammed Bin Rashid had the biggest number of deals this week standing at 19 transactions worth $59 million in total. Next on the list was Al Hebiah Third with 9 transactions worth $3.8 million, followed by Nadd Al Shiba Third, where 4 transactions worth $2.9 million were made.

The most expensive apartment was sold for $70 million in Burj Khalifa and the most expensive villa was sold for $35 million in Dubai Investment Park First. These two topped the list of the most notable transactions followed by an apartment in Marsa Dubai sold for $30 million.

Total sum of mortgaged properties this week was $544 million. The highest was a land in Al Hebiah Fourth mortgaged for $101 million.

72 properties worth $90 million were granted between first-degree relatives.

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