Dubai executes real estate transactions worth AED 2.7 billion in a week

Real estate transactions worth AED 2.7 billion were registered in Dubai during the week ending October 15.

That's according to figures released by the Dubai Land Department.

There were 1,014 transactions in total - 38 plots were sold for AED 204.99 million, while 654 apartments and villas were sold for AED 1.36 billion.

The top transaction was a land in Saih Shuaib 4 which was sold for AED 52.51 million.

Nad Al Sheba Third recorded the most number of transactions during the one-week period (seven sales transactions worth AED 17.59 million), followed by Hadaeq Sheikh Mohammed Bin Rashid (five sales transactions worth AED 23.87 million), and Al Merkadh with four sales transactions worth AED 51 million.

The top three residential transfers were an apartment in Palm Jumeirah (AED 161 million), followed by one in Marsa Dubai (AED 138 million), and a villa in Al Hebiah Fourth (AED 102 million).

The sum of the amount of mortgaged properties for the week was AED 850 million, with the highest being a land in Marsa Dubai, mortgaged for AED 268 million.