Weekly transactions in the Dubai real estate market exceeded 7.3 billion dirhams

According to data provided by Dubai Land Department (DLD), 2,338 real estate transactions worth 7.3 billion dirhams were completed in the week ending October 14, 2022.

1,791 apartments and villas were purchased for 3.81 billion dirhams, while a total of 106 plots were sold for 1.76 billion dirhams.

Two plots of land in Palm Jumeirah were sold for 600 million dirhams UAE and 206.52 million dirhams UAE respectively, and another plot in Al Satwa was sold for 44 million dirhams UAE to complete the three largest transactions.

This week, Hadaeq Sheikh Mohammed Bin Rashid registered 22 purchase and sale transactions totaling 475.41 million dirhams of the UAE, followed by Jabal Ali First (9 transactions totaling 26 million dirhams of the UAE) and Al Hebiah Fifth (9 transactions totaling 20.3 million dirhams of the UAE).

The total value of mortgaged real estate for the week amounted to 1.49 billion dirhams of the UAE, while the highest mortgage amount on Island 2 was 271 million dirhams of the UAE.