Property Deals in Al Wasl & Palm Jumeirah Were Also Significant

The week ending July 15 witnessed property transactions in Dubai worth Dh5.5 billion, according to Dubai Land Department. The emirate registered 1,614 transactions, including the sale of 186 plots for Dh594.72 million and the sale of 1,004 homes for Dh2.43 billion. According to the DLD weekly report, the top transactions included the sale of land in Ras Al Khor Industries First for Dh32.91 million. Followed by the sale of property in Al Merkadh for Dh19.41 million.

Al Hebiah Fifth made the highest sales this week with 105 transactions totaling Dh262.43 million. Jabal Ali First came in second with 35 deals totaling Dh101.75 million and Al Yufrah 2 with 12 transactions totaling Dh15 million.

Apartment and villa transfers include the sale of a Burj Khalifa apartment for Dh317 Million. An Al Wasl apartment for Dh240 Million, and a Palm Jumeirah apartment for Dh191 Million. The total value of properties with mortgages this week was Dh2.06 Billion.

Sharjah Succeeds Greatly

According to information from the Sharjah Real Estate Registration Department, 747 property sales transactions in 106 regions occurred in Sharjah in June and were worth a combined Dh1.9 billion. 358 mortgage transactions totaling Dh764 million are included in the statistics.

Director General of SRERD Abdulaziz Ahmed Al Shamsi stated that despite being affected by the state of the world economy since last February. The industry has continued to expand and recover at a favorable rate. It has benefited from investors’ greater desire to engage in real estate deals. Because real estate is a safe sanctuary for money and a great way to live comfortably. Businesses and individuals choose to invest in it.

“These achievements are consistent with the strategic objective of the Emirate of Sharjah. In the sectors of economic & social growth, improving financial sustainability, boosting the macro economy. In addition providing appropriate housing for both citizens and residents,” the statement reads.

The department completed 2,521 transactions all over the previous month. With 747 of those being sales and accounting for 29.6% of the total. Mortgage transactions made up 358, or 14.2% of all transactions. While the remaining transactions made up 1,416, or 56.2 percent.

Residential, industrial, commercial, and agricultural areas made up more than 6 million square feet of real estate sales in the emirate in June.

By kind of property, there have been 239 transactions involving unoccupied land (32%). As opposed to separated towers, which accounted for 331 trades. Developed lands constituted 177 transactions 23.7%, 44.3%.