Dubai achieved it within a week. Sale of plot of land, penthouse and villa worth more than AED 300M

Dubai's real estate market has witnessed a new week of strong sales of residential units (apartments and villas) as the unprecedented momentum in the sector continues, supported by strong demand, especially for luxury properties, especially in popular areas of the emirate.

According to data from the Dubai Land Department, real estate transactions in Dubai this week amounted to more than AED 9.1 billion, distributed by AED 7.2 billion in sales, AED 1.7 billion in mortgages and grants worth AED 264.4 million.

The sector recorded 2475,7 residential sales worth AED 2.191 billion, including 1 sales of land worth AED 14.2284 billion and 6,03 sales of apartments and villas worth AED <>.<> billion.

The most important sales of apartments and villas came through 3 large sales worth a total of AED 301 million, the first is a plot of land worth AED 122 million in the "Island 2" area as the most important sales, the second is a penthouse worth AED 105 million in the "Palm Jumeirah" area and the third villa worth 74 million dirhams in the "World Islands" area.

Dubai Marina topped the regions in terms of the number of sales of apartments and villas, recording 308 sales worth one billion dirhams, followed by Al Barsha South Fourth with 305 sales worth AED 278 million and third in Al Thanyah V with 164 sales worth AED 287 million.

As for the most important land sales, the sale came with a value of AED 135 million in the "Island 2" area, followed by a sale worth AED 50 million in the "Business Bay" area, followed by a sale worth 50 million dirhams in the "Sheikh Mohammed bin Rashid Gardens" area.

The fifth Al Hebiah region topped the regions in terms of the number of sales, recording 54 sales worth AED 185 million, followed by the "Hind City 4" area with 34 sales worth AED 50 million and the third in Jebel Ali First with 14 sales worth AED 46 million.

Mortgages

Mortgages recorded a value of AED 1.7 billion, including 91 land mortgages worth AED 846.6 million, 462 villa and apartment mortgages worth AED 829.19 million, the most important of which were in Business Bay with a value of AED 374 million and another in the World Islands area with a value of AED 265 million.

As for the donations, 77 donations worth AED 264.4 million were recorded, the most important of which were in the Dubai Marina area with a value of AED 44 million and another in the Sheikh Mohammed bin Rashid Gardens area with a value of AED 43 million.

Dubai's attraction

For his part, the CEO of Elio Properties, Zahi Kashou, said that the continuation of the strong sales movement in Dubai comes as confirmation of the continued attractiveness of the emirate to foreign investors after it succeeded in strengthening its position as the best city to live, work and visit.

Qashou predicted that the summer season of 2023 will also be exceptional for the real estate sector in Dubai, compared to previous seasons of previous years, which witnessed some slowdown in demand, and he also expected the sector to continue to record strong real estate sales during the remainder of this year, supported by the continued momentum within the market, and the strong incentives provided by Dubai's economy, including facilities and laws for real estate investors.