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Dubai’s real estate market records over AED11.3 billion in weekly transactions.

For the week ending October 28, 2022, there were 2,217 real estate transactions totaling AED7 billion, according to figures provided by the Dubai Land Department. (DLD).

234 plots were sold for a combined AED2.26 billion, while 1,983 flats and villas cost AED4.74 billion.

First-degree relatives received 97 homes for a combined AED2.25 billion, while the value of all mortgaged properties for the week was AED2.23 billion.

The top three property transactions were the sale of a plot of land in Island 2 for AED130 million, a plot of land in Palm Jumeirah for AED300 million, and a plot of land in World Islands for AED86 million. Jebel Ali had the most sales this week with 105 deals worth AED353 million, followed by Mohammed bin Rashid Gardens.

The top three apartment and villa sales in Palm Jumeirah totaled AED60 million, with Umm Suqeim Third coming in second with AED49 million and Me’aisem First coming in third with AED45 million.

Business Bay recorded the most sales transactions this week with 269 totalling AED449 million, followed by Dubai Marina with 241 totaling AED939 million and Barsha South Fourth with 170 totaling AED143 million.

This Blog is provided solely for educational reasons, including broad information and a general comprehension of its content, including related laws and regulations, and is not intended to give particular legal advice. The Blog is not intended to replace competent advice from a registered expert.

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