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UAE weekly real estate transactions hit AED12.9 billion
Pictures are for illustration purposes only.
Real estate in Dubai set another record this week, with the sale of an apartment on the Palm Jumeirah for a staggering AED1 billion.
The transaction was the largest recorded in the week to November 4, during which real estate and real estate transactions totalled AED12.9 billion.
The total number of transactions was 3,995. 348 plots were sold for AED 2.38 billion and 3,126 apartments and villas were sold for AED 7.23 billion.
The top three deals were land for AED 350 million in the World Islands, followed by AED 95 million in Island 2 and AED 350 million in the World Islands Land for sale came in third. Jabal Ali First had the highest volume this week with 122 sales worth AED428.59 million, followed by Al Hebiah Fifth with 72 sales worth AED175.57 million and Al Hebiah Fourth with 24 sales Transactions worth AED 215 million came in third.
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Apart from the Palm Jumeirah deal, the second-highest deal by value was a condo in Business Bay for AED 815 million, followed by AED 691 million in Marsa, Dubai Apartment.
Mortgage properties totalled 1.33 billion this week, the highest of which was a piece of land in Al Hamriya at Dh150 million. 79 properties valued at AED 2.12 billion were awarded among first-degree relatives.
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