The Dubai real estate market saw a rise in property deals on Wednesday to reach AED 1.9 billion, higher than the AED 1.4 billion recorded on the previous day.
Wednesday’s property deals included 451 sales transactions worth AED1.2 billion, 82 mortgage deals of AED663.03 million, and 19 gift deals amounting to AED36.64 million, according to Dubai’s Land Department (DLD) data.
The sales included 416 villas and apartments worth AED819.39 million, and 35 land plots worth AED384.67 million.
The mortgages included 66 villas and apartments worth AED104.31 million and 16 land plots valued at AED558.73 million.
The emirate has been witnessing a sustained demand for real estate assets in the past several months, with property deals breaching billion marks week after week.
Dubai witnessed sale of a patch of land for a record-breaking AED125m ($34 million) on Monday, shattering UAE real estate records in the process.
The land sale transaction, reported by Knight Frank, took place in Jumeirah Bay Island, and the plot measured 24,500sq ft.
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