Madinat Hind 4 had the highest number of transactions between October 9th and 13th, with 55 deals worth a total of AED 91M (USD 25M). In second place was Palm Jebel Ali with 49 deals worth AED 1.2B (USD 316M). Al Hebiah Fifth district, with 38 deals, is in third place. The total amount of deals there amounted to AED 112M (USD 31M).
The largest land deals were as follows:
- on Palm Jumeirah for AED 1B (USD 272M);
- on Palm Deira for AED 600M (USD 163M);
- in Al Thanyah Fifth for AED 122M (USD 33M).
The total amount of mortgaged properties last week amounted to AED 2.4B (USD 645M). The Dubai Land Department reported 117 real estate transfers between first degree relatives worth AED 900M (USD 246M).
Last week, the amount of real estate transactions in Dubai amounted to AED 9.5B (USD 2.6B). The increase in the number of transactions indicates the positive activity of the market and the interest of investors in housing in the emirate. Experts believe that the demand for real estate in Dubai in the near future will be higher than the supply capacity of the developers.