Recent Blogs

Back to Propertify

Dubai Realty Sales set a Record of AED 2.9 Billion Sales

Dubai Realty Sales set a Record of AED 2.9 Billion Sales

Dubai realty sales have set a record of 2.9 billion sales as per the information shared by the Dubai Land Department.

The total real estate transactions have a value of AED 2.9 billion, with 1,241 deals during the week, ending at November 5th, 2020.

Furthermore, 44 plots were also sold for AED 176.8 million, meanwhile a stunning number of 854 apartments and villas were sold for AED 1.49 billion. The data is backed by the recent information shared by the Dubai Land Department.

Here are the top three reported transactions:

  1. Jabal Ali First, 16 sales worth AED 27.49 million
  2. Nad Al Shiba Third, five sales worth AED 12.07 million
  3. Al Merkadh, five sales worth AED 61 million

The top three apartments and villas as stated in this report, were sold for a record number of AED 257 million in the iconic location of Marsa Dubai, the second property was an apartment in Burj Khalifa, worth AED 102 million and on third place was a villa in Al Hebiah Fourth AED 96 million.

Related: Brand New Dubai Villa Sets A Record 1.4 Million Dirhams In Rent

Dubai realty sales record further shows that the total sum of mortgaged properties during this week was AED 1 billion, the highest valued land being in Nadd Hessa, which was mortgaged for a sum of AED 198 million.

Apart from mortgages, between first degree relatives a whopping number of 43 properties were granted for AED 142 million.

For more interesting news on UAE real estate, keep visiting Propertify Blogs and follow us on Facebook to stay connected with us!