On March 21, Dubai reached a new record for the number of property investments which amounted to AED 2.3B (USD 626M). There were 434 sales deals, 86 mortgage deals and 139 gift deals. The amount of purchases and sale transactions amounted to AED 1.83B (USD 498M), whilst mortgage transactions totalled AED 426.5M (USD 116M) and gift deals; AED 123.6M (USD 33.7M). This number of deals is an indicator of the growing demand in the UAE property market.
AED 944.57M (USD 257M) was spent on the purchase of apartments and villas, and AED 889.15M (USD 242M) was spent on buying land plots.
Mortgage loans included 20 plots of land and 66 villas and residences, with land plots totalling AED 266.4M (USD 73M) and AED 160.06M (USD 43.6M) for villas and residences.
For the period from 10 to 17 March, the UAE property sector registered 3,903 deals with a value of over AED 10.1B (USD 2.75B).
According to the DLD, AED 1.12B (USD 305M) was spent on the purchase of 208 land plots, and AED 6.25B (USD 1.7B) was spent on buying 2,906 villas and apartments.