Dubai Records AED 2.6 Billion in Real Estate Transactions in a Single Day
Dubai recorded real estate transactions worth AED 2.6 billion across 985 deals on Monday, including AED 1.8 billion in sales from 695 deals, according to "Dubai REST" data.
Dubai recorded real estate transactions worth AED 2.6 billion distributed across 985 deals on Monday, according to "Dubai REST" data reported by "Al Khaleej" newspaper.
Sales reached a value of AED 1.8 billion through 695 deals, with Business Bay topping the list at AED 141 million, followed by Al Ruwayyah First at AED 119 million, and Palm Jumeirah at AED 84 million.
Mortgages recorded AED 532 million across 220 deals, while real estate gifts reached a value of AED 265 million through 70 deals.
The data reflects the daily activity level in Dubai's real estate market, measured by "Dubai REST" through sales, mortgage, and gift transactions registered in the emirate.
What do these terms mean?
Real Estate Transactions: Officially registered property buy, sell, mortgage, and gift transactions.
Mortgage: A loan secured by property obtained by the owner or buyer from a bank.
Dubai REST: A system affiliated with the Dubai Land Department that registers real estate transactions and displays their data.
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