Dubai real estate sees continued surge in demand with transactions worth $490 million on a single day
Transactions on Tuesday, May 17, included sales of 342 villas and apartments worth AED 1.11 billion, and 49 land plots worth AED 295.09 million
Dubai real estate market recorded real estate transactions worth $490 million (AED 1.8 billion) on Tuesday, May 17.
The real estate transactions included 391 sales transactions worth AED 1.4 billion and 60 mortgage deals worth AED 336.86 million.
The sales included 342 villas and apartments worth AED 1.11 billion, and 49 land plots worth AED 295.09 million.
The mortgages included 51 villas and apartments worth AED 219.65 million and nine land plots valued at AED 117.21 million, bringing the total realty transactions on Tuesday to more than AED 1.8 billion.
The realty transaction also included 57 gift transactions amounting to AED 64.67 million on Tuesday, according to data released by the Dubai Land Department (DLD).
Secondary market sales transactions, comprising 60 percent of the total, constituted 4,212 transactions worth AED 12.86 billion, while off-plan properties, comprising the remaining 40 percent, constituted 2,771 properties worth a total of AED 5.33 billion in the month of April.