Dubai witnesses 2,012 real estate transactions worth $1.44 billion in the first week of Ramadan

A total of 2,012 real estate transactions worth $1.44 billion (AED 5.3 billion) in total were conducted in Dubai during the first week of Ramadan, in a seven-day period ending 8 April 2022.

According to figures released by the Dubai Land Department, 236 plots were sold for $291.3 million (AED 1.07 billion).

Additionally, another 1,415 apartments and villas were sold for $805.85 million (AED 2.96 billion), the state-run news agency, Wam, reported.

The top three transactions included land in Hadaeq Sheikh Mohammed Bin Rashid sold for $20.4 million (AED 74.96 million), followed by land that was sold for $6.125 million (AED 22.5 million) in Al Merkadh, and land sold for $5.17 million (AED 19 million) in Al Satwa.

Al Hebiah Fifth recorded the most transactions for this week, claiming 119 sales transactions worth $72.9 million (AED 267.82) million, followed by Al Merkadh with 40 sales transactions worth $107.27 million (AED 394.02 million), and Wadi Al Safa 5 with 15 sales transactions worth $20.41 million (AED 75 million) in third place.

The sum of the amount of mortgaged properties for the week was $285.86 million (AED 1.05 billion).

Furthermore, 53 properties were granted between first-degree relatives worth $73.23 million (AED 269 million).

Source: Arabian Business

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