Home Local News BOOM! Real estate transactions in Dubai reached a whopping billion dirhams!

BOOM! Real estate transactions in Dubai reached a whopping billion dirhams!

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As of Sunday 6 June 2021, Dubai has 1 BILLION officially registered plus real estate transactions.

The Dubai Land Department recorded transactions worth up to AED 1.4 billion after accounting for real estate sales, donations and land pledges.

Sheikh Mohammed bin Rashid’s garden area received the crown as a numero uno community with the largest land sale at AED 11 million. The land sale was followed by two collaterals of AED 10 million, resulting in the transfer of AED 22 million in the Wadi al-Safa area alone.

In the Palm Jumeirah area, donations totaling AED 13 million were recorded and 5 other donations were raised for AED 7 million, for a total donation of AED 20.61 million!

In addition to donations, the department has collected 247 contributions totaling AED 695.86 million, of which 32 collaterals relate to land (AED 145.03 million) and the rest to the sale of apartments and villas for AED 550.83 million.

In Al Habibiyah District 4, 11 donations were pledged worth AED 49 million, and Sheikh Mohammed bin Rashid Gardens area recorded 7 sales worth up to AED 60 million.

Al Lafrah 2 sold 3 times for AED 3 million.

In the Palm Jumeirah area, pledges of up to AED 69 million have been pledged for apartments and villas in the area, along with a whopping AED 65 million sale and promises of AED 25 million.

Emaar Properties also recorded a 250% jump in sales to AED 10.5 billion in the first 5 months of 2021.

These are figures compared to the same period last year.

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