In the vibrant tapestry of Dubai’s real estate, the week ending January 5, 2024, painted a picture of dynamic transactions, with a total value soaring to 5.8 billion AED. Let’s delve into the numbers, trends, and standout moments that shaped the landscape.
Overview:
The bustling Dubai Marina District Cityscape witnessed a flurry of activity, with 114 plots changing hands for a substantial 1.36 billion AED. Not far behind, 1,183 apartments and villas found new owners, contributing an impressive 3.13 billion AED to the week’s real estate spectacle.
Top Transactions:
Standing tall among the myriad transactions were three notable sales. Leading the pack was a parcel of land in Al Thanyah Fifth, commanding a hefty 268.33 million AED. It was closely followed by a 113.9 million AED sale in Warsan Fourth and a significant 65.26 million AED transaction in Palm Jabal Ali.
Local Hotspots:
Madinat Hind 4 emerged as the hotspot of the week, boasting 18 sales transactions totaling 20.57 million AED. Palm Jabal Ali secured second place with 11 transactions valued at 311.64 million AED, closely trailed by Saih Shuaib 1 with 8 transactions amounting to 15.95 million AED.
Top Residences:
In the realm of apartments and villas, the week’s top three transfers showcased a diverse range. Al Thanyah First took the lead with a residence fetching 110.01 million AED, followed by Palm Jumeirah’s offerings at 62 million AED and 56.4 million AED, respectively.
Mortgaged Marvels:
Mortgages added a layer of complexity to the week’s proceedings, with a cumulative value of 779.4 million AED. The spotlight shone on Al Hamriya, where a land transaction secured the highest mortgage at a noteworthy 125 million AED.
Family Ties:
A heartening note was the 98 properties granted between first-degree relatives, symbolizing familial bonds and trust in the market. These transactions collectively accounted for 617 million AED, adding a personal touch to Dubai’s real estate landscape.
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