Dubai: AED 13.5 Billion in Weekly Real Estate Transactions Across 4,195 Deals
Dubai real estate transactions recorded AED 13.5 billion across 4,195 deals this week, including AED 8.6 billion in sales and AED 3.72 billion in mortgages.
Data from the Dubai Land Department showed that weekly real estate transactions reached AED 13.5 billion across 4,195 deals, according to Al Khaleej newspaper.
Sales value reached AED 8.6 billion across 2,676 transactions, while mortgages recorded AED 3.72 billion through 1,266 deals, and real estate gifts amounted to AED 1.16 billion in 251 transactions.
The largest sales were recorded in Palm Jebel Ali at AED 740 million, followed by Airport City at AED 302 million, and Dubai Islands at AED 196 million.
In the same context, Friday alone recorded transactions worth AED 1.16 billion through 575 transactions, reflecting ongoing activity in Dubai's real estate market.
What do these terms mean?
Real Estate Transactions: Every process of property transfer, sale, mortgage, or gift conducted on a property.
Mortgage: A loan granted by a bank to purchase a property in exchange for securing it as collateral until the loan is repaid.
Real Estate Gift: Transferring property ownership to another person without financial consideration.
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