Palm Jebel Ali Became the Most Desirable Option For Buyers Last Week

According to information from the Dubai Land Department (DLD), last week saw 1,524 property transactions in the emirate with a total value of AED 8.2B (USD 2.2B). The majority of registered transactions took place on Palm Jebel Ali, Al Hebiah Fifth and Madinat Hind 4 with 51, 24 and 21 sales, respectively. Their total value reached AED 1.2B (USD 324M), AED 91.7M (USD 25M) and AED 29.3M (USD 8M), respectively.

As for villas and apartments, 1,292 residences worth AED 3.1B (USD 839M) were sold last week. The most expensive residence transactions took place in the following areas:

Moreover, 232 plots of land with a total value of AED 2.57B (USD 700M) were sold in Dubai. The top three transactions were recorded in Al Hebiah Fourth, Al Thanayah Fourth and Al Yufrah 4, where plots of land were sold for AED 65.1M (USD 17.8M), AED 56.7M (USD 15.4M) and AED 51M (USD 13.9M), respectively.

In terms of mortgaged properties, the total sum reached AED 2B (USD 553M). The most expensive property was a plot of land in Business Bay mortgaged for AED 788.3M (USD 214.6M). Additionally, 133 properties with a total value of AED 563M (USD 153M) were gifted between first-degree relatives.

A real estate unit in Dubai is a perfect investment into your future. It can become your first or second home, or even be used as a way to earn a profit. Recently launched projects that have attracted the attention of buyers and investors include The Coral Collection and The Beach Collection by Nakheel Properties on Palm Jebel Ali, Oceanz 3 by Danube in Dubai Maritime City and Alana by Emaar Properties in The Valley.