Dubai Records AED 2.6 Billion in Real Estate Transactions in a Single Day
The Dubai Land Department reported real estate transactions totalling AED 2.6 billion across 850 deals in a single day, highlighting strong market activity.
Dubai's real estate market demonstrated significant activity recently, with the Dubai Land Department (DLD) recording a total of AED 2.6 billion in transactions from 850 deals on a single Wednesday.
Sales and Mortgages
Sales transactions accounted for the largest portion of the daily total, reaching AED 1.6 billion across 630 deals. These sales included:
- 18 building sales
- 45 land sales
- 567 residential unit sales
Mortgage transactions also contributed substantially, with 182 deals valuing AED 866 million. This segment was comprised of:
- 23 building mortgages
- 53 land mortgages
- 106 residential unit mortgages
Also, the DLD registered 38 gift transactions with a total value of AED 110 million, indicating diverse forms of property transfers.
Notable Transactions
Among the significant individual transactions reported, a residential plot in the Al Merkadh area sold for AED 160 million. Another prominent sale involved an off-plan apartment within the 'Address Residences Za'abeel' project in Za'abeel First, which was acquired for AED 30 million.
Questions, answered
- What was the total value of real estate transactions recorded by DLD?
- The Dubai Land Department recorded a total of AED 2.6 billion in real estate transactions in one day, encompassing sales, mortgages, and gift transfers.
- How many sales transactions were registered and what was their value?
- There were 630 sales transactions recorded, with a combined value of AED 1.6 billion. These included sales of buildings, land, and residential units.
- What was the value and number of mortgage transactions?
- Mortgage transactions totalled AED 866 million across 182 deals. These comprised mortgages on buildings, land, and residential units.
- Were there any gift transactions?
- Yes, the DLD recorded 38 gift transactions with a total value of AED 110 million.
- What were some of the high-value individual property sales?
- Notable sales included a residential plot in Al Merkadh for AED 160 million and an off-plan apartment in the 'Address Residences Za'abeel' project for AED 30 million.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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