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Dubai Real Estate Report: Dh5.8 Billion Transactions in a Week, 2024 Begins with Strong Sales

Posted by Luxury Link Properties on January 9, 2024

Dubai’s real estate sector observed a total of 1,721 transactions amounting to Dh5.8 billion during the week ending January 5, as reported by the Dubai Land Department (DLD).

In this week’s report by DLD, 114 plots were sold for Dh1.36 billion, while 1,183 apartments and villas were purchased, totaling Dh3.13 billion.

The three most substantial transactions included the sale of land in Al Thanyah Fifth for Dh268.33 million, followed by another land sale in Warsan Fourth for Dh113.9 million, and a land deal in Palm Jabal Ali for Dh65.26 million, ranking third.

Madinat Hind 4 recorded the highest number of transactions with 18 sales worth Dh20.57 million, followed by Palm Jabel Ali with 11 transactions valued at Dh311.64 million, and Saih Shuaib 1 in third place with 8 transactions totaling Dh15.95 million.

The top three transfers for apartments and villas were Dh110.01 million in Al Thanyah First, along with two other transactions at Dh62 million and Dh56.4 million in Palm Jumeirah.

Mortgaged properties for the week summed up to Dh779.4 million, with the highest mortgage recorded on a land in Al Hamriya for Dh125 million.

Furthermore, 98 properties were transferred between first-degree relatives, amounting to Dh617 million in total value.

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