Stock - Dubai property
Image Credit: Bloomberg

Dubai: A total of 1,809 real estate transactions worth Dh7.3 billion were conducted during the week ending October 7, 2022.

Figures released by the Dubai Land Department through the official news agency WAM, show that a total of 98 plots were sold for Dh975.52 million, and 1,711 apartments and villas were purchased for Dh4.47 billion.

The mortgaged properties for the week reached Dh1.47 billion, while 157 properties were granted between first-degree relatives worth Dh418.56 million.

The top three land transactions were a land in Business Bay sold for Dh74 million, a land sold for Dh72 million in Umm Al Sheif, and a land sold for Dh58 million in Palm Jumeirah.

Jebel Ali recorded the most transactions for this week with 18 sales transactions worth Dh58 million, followed by Al Hebiah Fifth with 15 sales transactions worth Dh52 million, and Mohammed bin Rashid Gardens with 14 sales transactions worth Dh293 million.

The top three transactions for apartments and villas were sold in Palm Jumeirah for Dh55 million, Dh42 million and Dh36 million, respectively.

Business Bay recorded the most transactions for this week with 211 sales transactions worth Dh363 million, followed by Palm Jumeirah with 143 sales transactions worth Dh1 billion, and Umm Suqeim Third with 137 sales transactions worth Dh370 million.