Dubai Land Department Records Over AED 1.9 Billion in Property Transactions

The real estate transactions in the Land and Property Department in Dubai yesterday exceeded 1.9 billion dirhams.

The department witnessed the registration of 619 sales transactions worth 1.72 billion dirhams.

Among these transactions, there were 46 land sales worth 414.89 million dirhams, and 573 sales of apartments and villas worth 1.3 billion dirhams.

The most important land sales were valued at 65 million AED in the Palm Jumeirah area, followed by a sale valued at 55.65 million AED in the Palm Deira area, and then a sale valued at 28.8 million AED in the fourth Al Habia area.

Region 4, the HInd area, dominated in terms of the number of transactions, with 29 transactions recorded totaling AED 82.1 million.

It was followed by the fourth district of Al-Habia, which recorded 4 transactions totaling AED 104.63 million.

The fifth district of Al-Habia came in third place with 3 transactions recorded totaling AED 8.23 million.

In regards to the most important apartment and villa sales, a sale worth AED 177.13 million was recorded in the first Nad Al Sheba area, followed by a sale of AED 29.95 million in the Dubai Marina area, and finally a sale of AED 28.81 million in the Business Bay area.

Dubai Maritime City topped the regions in terms of the number of apartment and villa sales, recording 132 sales with a value of AED 241.76 million. It was followed by the Al Barsha South Fourth region, which recorded 118 sales with a value of AED 116.59 million.

Coming in third was the Dubai International Financial Centre, with 43 sales totaling AED 109.27 million.

The mortgages recorded a value of 159 million dirhams, including 10 mortgages for land with a value of 12.73 million dirhams and 71 mortgages for villas and apartments with a value of 146.27 million dirhams.

The most important of these was in the Jebel Ali area with a value of 30.07 million dirhams, and another in the Palm Jumeirah area with a value of 16.9 million dirhams.

As for donations, there were 17 donations recorded with a value of 34.02 million dirhams, the most important of which was in the Fifth Thaneh area with a value of 22.42 million dirhams, and another in the Al Barsha South Fourth area with a value of 8.16 million dirhams.

(WAM)