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Real estate transactions in mid-February hit Dhs4.9 billion in Dubai

A total of 1,277 real estate and property transactions valued at Dhs4.9 billion were registered during the week ending 18 February 2021, according to WAM.

Eighty plots were sold for Dhs417.81 million, while 776 apartments and villas were sold for Dhs1.23 billion.

The top three transactions were land deals in Jebel Ali Industrial II area, it sold for Dhs77.7 million, followed by a plot of land at Dhs36.5 million in Island 2, and another plot for Dhs77.7 million in Jebel Ali Industrial II.

Nad Al Sheba Third recorded the largest number of transactions, 24, worth Dhs58.52 million, followed by Al Hebiah Fourth with eight transactions worth Dhs27.8 million, and Hadaeq Sheikh Mohammed bin Rashid with five transactions worth Dhs21 million in third place.

The top three transfers for apartments and villas were an apartment sold for Dhs153 million in Marsa Dubai; an apartment for Dhs112 million in Business Bay, and an apartment sold for Dhs91 million in Burj Khalifa.

Mortgaged properties in the week stood at Dhs3 billion, with the highest being a plot of land in Wadi Al Safa 7, mortgaged for Dhs709 million.

Fifty properties were granted registrations between first-degree relatives for Dhs375 million.