Dubai’s 2024 property sales had a fantastic start with the week ending January 5, a robust total of 1,721 real estate and property transactions, valued at Dh5.8 billion, transpired in Dubai, as reported by the Dubai Land Department (DLD).
The weekly DLD report unveiled a dynamic market scenario, with 114 plots fetching Dh1.36 billion, and 1,183 apartments and villas changing hands for Dh3.13 billion.
2024 Property Sales Flying
The foremost transactions in this period encompassed a land deal in Al Thanyah Fifth, commanding a staggering Dh268.33 million, followed closely by a Dh113.9 million transaction in Warsan Fourth and a Dh65.26 million land sale in Palm Jabal Ali securing the third spot.
Madinat Hind 4 emerged as the most active locale, boasting 18 sales transactions amounting to Dh20.57 million.
Palm Jabel Ali and Saih Shuaib 1 secured the second and third positions, recording 11 sales transactions worth Dh311.64 million and 8 transactions worth Dh15.95 million, respectively.
In apartment and villa transfers, Al Thanyah First led with a significant transaction valued at Dh110.01 million, while Palm Jumeirah featured prominently with two transactions at Dh62 million and Dh56.4 million.
The week also witnessed a noteworthy sum of mortgaged properties, reaching Dh779.4 million, with the most substantial mortgage associated with land in Al Hamriya, valued at Dh125 million.
Furthermore, 98 properties, amounting to Dh617 million, were granted among first-degree relatives, reflecting a multifaceted landscape of familial property transactions during this period.
The comprehensive insights provided by the DLD underscore the resilience and dynamism within Dubai’s real estate sector at the outset of 2024.
