Dubai’s Property Market Surges with AED 3 Billion in Transactions

On Tuesday, Dubai’s vibrant real estate sector witnessed transactions totaling AED 3 billion. This impressive figure was disclosed in a report from the Dubai Land Department (DLD). The transactions comprised of 530 property sales, 135 mortgage agreements, and 55 gift transactions. These transactions underscore the robust activity in Dubai’s property market.

Breaking down the numbers, property sales included 494 villas and apartments valued at AED 1.15 billion, along with 36 land plots reaching AED 1.2 billion. Mortgages also showed significant activity with 114 villas and apartments worth AED 284.27 million and 21 land plots amounting to AED 280 million. The total value of gift transactions stood at AED 180.68 million.

This data not only reflects the dynamic nature of Dubai’s real estate market but also underscores its substantial financial impact, with Tuesday’s transactions alone surpassing the AED 3 billion mark.

Original article reference: Zawya.

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