Dubai land plot sells for Dh1.27b as property deals top Dh6.2b in a day

Dubai: Dubai’s property market saw one of its largest land transactions of the year with the sale of a plot in the Al Yalayis 1 area for Dh1.27 billion, according to data from the Dubai Land Department’s “Dubai Rest” application.

The land covers an area of 4.18 million square feet.  The latest figures show that real estate sales across Dubai reached Dh5.18 billion through 1,332 transactions. Of these, 1,179 were for residential units, 56 for buildings, and 97 for plots of land.

Mortgage activity recorded 242 transactions valued at Dh914.39 million, consisting of 140 residential units, 32 buildings, and 70 land plots. In addition, 31 gift transactions were registered, amounting to Dh125.35 million.

In total, real estate dealings in Dubai on Monday alone reached approximately Dh6.21 billion across 1,605 transactions. With today’s activity, Dubai’s year-to-date property sales have surpassed the Dh600 billion milestone, reaching Dh603.48 billion.

The total value of all real estate transactions, including sales, mortgages, and gifts, has climbed to Dh812.89 billion so far this year.