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Dubai Real Estate News
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Dubai property report
During the week ending on February 2, 2024, the Dubai Land Department (DLD) reported a robust real estate market, witnessing a total of 3,677 transactions amounting to over Dhs11.5 billion.
Breaking down the figures, the report highlighted that 192 plots changed hands, generating a total of Dhs2.61 billion, while 2,699 apartments and villas were sold, collectively amounting to Dhs5.75 billion.
The most notable transactions included the sale of a land in Madinat Dubai Almelaheyah for Dhs614.96 million, another land in Al Merkadh sold for Dhs146 million, and a third in Madinat Dubai Almelaheyah fetching Dhs141.34 million.
Madinat Hind 4 led in terms of sales transactions with 51 deals amounting to Dhs118.15 million, followed by Al Hebiah Fifth with 27 transactions totaling Dhs78.4 million, and Jabal Ali First with 14 transactions valued at Dhs70.74 million.
Among the top apartment and villa transfers were properties in Al Mamzer (Dhs182 million), Al Wasl (Dhs67.5 million), and Um Suqaim Third (Dhs55 million).
The week saw a substantial mortgage activity, with the total value of mortgaged properties reaching Dhs2.24 billion. Additionally, 154 properties were granted between first-degree relatives, accounting for Dhs852.15 million in value.
In the week ending January 26, 2024, the Dubai Land Department (DLD) reported a robust real estate market with 4,123 transactions, amounting to a staggering Dhs14.2 billion.
The breakdown of transactions reveals that 312 plots were successfully sold, generating a total of Dhs2.95 billion, while 2,696 apartments and villas changed hands, accounting for Dhs5.84 billion.
Among the noteworthy transactions, a plot in Al Barshaa South Second secured the top spot with a sale value of Dhs210.1 million, followed by a plot in Saih Shuaib 2 at Dhs103.74 million, and another in Saih Aldahal at Dhs100 million.
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Madinat Hind 4 emerged as the leader in sales transactions for the week, boasting 133 transactions valued at Dhs338.03 million. Al Hebiah Fifth and Al Hebiah Fourth followed closely with 49 transactions totaling Dhs168.94 million and 20 transactions amounting to Dhs500.12 million, respectively.
In the realm of apartments and villas, the top three transfers featured a property in Nad Al Shiba First at Dhs177.13 million, another in Palm Jumeirah valued at Dhs78.63 million, and an apartment in Palm Jumeirah fetching Dhs44 million.
The week’s real estate activity also saw a substantial mortgage value, reaching a total of Dhs4.6 billion. Additionally, 195 properties were granted between first-degree relatives, with a combined value of Dhs850 million. The figures underscore the resilience and vibrancy of Dubai’s real estate market.
Dubai’s real estate market recorded 510 sales transactions worth Dhs1.36 billion on Tuesday, January 23, in addition to 210 mortgage deals totalling Dhs1.95 billion, and 30 gift deals amounting to Dhs165.56 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 446 villas and apartments worth Dhs949.04 million, and 64 land plots worth Dhs411.67 million.
The mortgages included 188 villas and apartments worth Dhs1.71 billion and 22 land plots valued at Dhs236.22 million, bringing the total realty transactions of Tuesday to over Dhs3.4 billion
Earlier reports
The total value of real estate transactions conducted in Dubai during the week ending on November 10, 2023, exceeded Dhs10.3 billion, according to figures released by the Dubai Land Department (DLD).
The DLD report showed that 1,782 sales transactions worth Dhs7.4 billion were conducted, with 396 plots sold for Dhs3.99 billion, and 1,386 apartments and villas purchased for Dhs3.41 billion.
The top three transactions were a land in Me’aisem Second sold for Dhs123.66 million, a land sold for Dhs97 million in Al Safouh Second, and another in Wadi Al Safa 2 sold for Dhs 88.25 million.
Wadi Al Safa 2 recorded the most sales transactions for this week with 79 transactions worth Dhs535.96 million, followed by Palm Jabal Ali with 73 transactions worth Dhs1.62 billion, and Me’aisem Second with 61 transactions worth Dhs740.77 million.
The top three apartment and villa transfers included one in Dubai Marina for Dhs360 million, another in Palm Jumeirah worth Dhs53 million, and an apartment in Me’aisem First worth Dhs42.8 million.
The total value of mortgaged properties for the week reached Dhs1.86 billion. Meanwhile, 142 properties were granted between first-degree relatives worth Dhs1 billion.
Previous Dubai Property Reports
A total of 1,524 real estate and properties transactions valued at Dhs8.2 billion were conducted during the week ending 20 October 2023, according to the Dubai Land Department (DLD).
The DLD weekly report said that 232 plots were sold for Dhs2.57 billion, 1,292 apartments and villas were sold for Dhs3.08 billion.
The top three transactions were a land in Al Hebiah Fourth sold for AED 65.13 million, followed by a land that was sold for Dhs56.67 million in Al Thanayah Fourth, and a land sold for Dhs51 million in Al Yufrah 4 in third place.
Palm Jabal Ali recorded the most transactions for this week by 51 sales transactions worth Dhs1.19 billion, followed by Al Hebiah Fifth with 24 sales transactions worth Dhs91.65 million, and Madinat Hind 4 with 21 sales transactions worth Dhs29.28 million in third place.
The top three transfers for apartments and villas were sold for Dhs132 million in Business Bay, a was second in the list sold for Dhs80 million in Rega Al Buteen, and thirdly it was a sold for Dhs70.1 million in Mankhool.
The sum of the amount of mortgaged properties for the week was Dhs2.03 billion, with the highest being a land in Business Bay, mortgaged for Dhs788.28 million.
133 properties were granted between first-degree relatives worth Dhs563 million.
tanvir@dubainewsweek.com
