Palm Jumeirah saw two of the costliest apartment/villa transfers at Dh62 million and Dh56.4 million. Image Credit: Virendra Saklani/Gulf News

Dubai: A total of 1,721 real estate and properties transactions valued at Dh5.8 billion were conducted during the week ending January 5, according to the Dubai Land Department (DLD).

The DLD weekly report said that in the first week of 2024, 114 plots were sold for Dh1.36 billion, and 1,183 apartments and villas were sold for Dh3.13 billion,

The top three transactions were a land in Al Thanyah Fifth sold for Dh268.33 million, followed by a land that was sold for Dh113.9 million in Warsan Fourth, and a land sold for Dh65.26 million in Palm Jabal Ali in third place.

Madinat Hind 4 recorded the most transactions for this week with 18 sales transactions worth Dh20.57 million, followed by Palm Jabel Ali with 11 sales transactions worth Dh311.64 million, and Saih Shuaib 1 with 8 sales transactions worth Dh15.95 million in third place.

The top three transfers for apartments and villas were as follows: Dh110.01 million in Al Thanyah First, and two others at Dh62 million and Dh56.4 million in Palm Jumeirah.

The sum of the amount of mortgaged properties for the week was Dh779.4 million, with the highest being a land in Al Hamriya, mortgaged for Dh125 million.

98 properties were granted between first-degree relatives worth Dh617 million.