Dubai Records AED 3.4 Billion in Real Estate Transactions Across 1,063 Deals
Dubai real estate transactions recorded AED 3.4 billion across 1,063 deals, including AED 1.9 billion in sales and AED 1.2 billion in mortgages, with a commercial mortgage worth AED 618 million registered in Dubai Islands.
Real estate transactions recorded at the Dubai Land Department reached AED 3.4 billion today across 1,063 deals, according to department data.
The department witnessed 685 sales transactions worth AED 1.9 billion, distributed among 76 building sales, 61 land sales, and 548 residential unit sales.
Mortgages recorded AED 1.2 billion across 245 transactions, including 34 building mortgages, 67 land mortgages, and 227 residential unit mortgages, while 50 gifts worth AED 232 million were registered.
The largest deals were concentrated in the Dubai Islands area, where a mortgage transaction for a commercial land plot worth AED 618 million was registered, alongside the sale of a residential apartment in Palm Jumeirah worth AED 55 million.
What Do These Terms Mean?
Real Estate Transactions: Every sale, mortgage, gift, or other transaction registered on properties by the Dubai Land Department.
Real Estate Mortgage: Pledging a property as collateral to secure a loan, where the property remains mortgaged until the amount is repaid.
Property Gift: Transferring property ownership to another person without financial compensation, officially registered with the department.
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