First working Friday in Dubai’s real estate market
The value of real estate transactions in Dubai exceeded AED 2.53 billion on the first working Friday after the country adopted the new working week, with 227 real estate transactions completed. The total value of property transactions recorded in the first week of the new year exceeded AED 7.24 billion, with 1,766 transactions completed.
Data from the Dubai Land Department (DLD) showed that there were 173 sales transactions worth AED2.38 billion in the first working Friday, of which 12 were land transactions worth AED451.16 million and 161 were flats and villas worth AED1.93 billion.
The top three land deals on Friday were Marsa Dubai, where land worth AED369 million was sold, followed by Al Taniya Fifth, where a plot of land was sold for AED28 million, and Palm Jumeirah, where a plot of land was sold for AED17 million.
Jebel Ali First recorded the highest number of transactions on Friday with three sales transactions worth AED6 million, followed by Palm Jumeirah with a sale transaction worth AED17 million and Warsan First with a sale transaction worth AED4 million.
The three flat and villa sales with the highest value included a AED500 million sale in Palm Jumeirah, followed by a AED 495 million sale in Marsa Dubai and a AED 402 million sale in Marsa Dubai.
On Friday, Jebel Ali First had the most deals for villas and flats, with 23 deals worth AED18 million; followed by Business Bay with 21 deals worth AED25 million; and Al Barsha South Fourth with 13 deals worth AED16 million.
The total value of mortgage deals concluded on Friday was AED125.03 million, including nine land mortgages worth AED47.88 million and 40 villa and flat mortgages worth AED77.15 million. The largest mortgage deal was recorded in Al-Tanyah Fourth, worth AED 37 million, followed by a mortgage deal in Nad Al-Sheba Third worth AED 11 million.
Five properties with a total value of AED 19.16 million were granted to first-degree relatives. Among them, the highest value of AED 12 million was recorded in Al Merkadh, followed by a property in Jebel Ali First worth AED 3 million.
The value of real estate transactions in #Dubai on the first working Friday following the adoption of the new weekly work system in the country exceeded AED2.53 billion, with 227 real estate transactions.https://t.co/kyu12Xq24J pic.twitter.com/AlYPsVL7Kj— Dubai Media Office (@DXBMediaOffice) January 7, 2022
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