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 Dubai Real Deals Valued Around $1.8 Billion For Week Ending Feb 11

This picture taken on July 8, 2020 shows an aerial view of the Burj Khalifa skyscraper, the tallest structure and building in the world, in the Gulf emirate of Dubai, during a government-organised helicopter tour. (Photo by KARIM SAHIB / AFP)

Dubai Real Deals Valued Around $1.8 Billion For Week Ending Feb 11

Dubai’s real estate transactions continued to increase in 2022 like in the previous year.

According to Dubai Land Department, as many as 2,078 deals worth $1.8 billion were conducted between February 7 and 11. They included 280 plots which were sold for $390 million, 1,275 apartments and villas for $690 million.

The top three transactions were a land in Al Mamzer sold for $36.05 million and a plot at Al Thanayah Fourth for $16.61 million.

Jabal Ali First Top

Jabal Ali First recorded the most transactions for this week by 89 sales transactions worth $72.94 million, followed by Al Hebiah Fifth with 87 sales transactions worth $53.31 million, and Al Hebiah Fourth with 20 sales transactions worth $45.47 million in third place.

The top three transfers for apartments and villas were an apartment was sold for $98.01 million in Burj Khalifa, an apartment in Marsa Dubai was sold for $73.24 million and an apartment in Business Bay which was sold for $55.54 million.

The sum of the amount of mortgaged properties for the week was $660 million, with the highest being a land in Palm Jumeirah, mortgaged for $112.17 million. As many as 107 properties were granted between first-degree relatives worth $84.13 million.

Dubai South’s Brisk Business

Meanwhile Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate, ended 2021 on a high note by recording several outstanding achievements across its different divisions, which includes attracting new clients and companies, the selling out of projects, signing top-level partnerships and launching unique projects.

The total number of companies now operating out of Dubai South reached 4,600, attracting more than 700 new companies. Moreover, the total number of people working out of Dubai South will reach 20,848 individuals by the end of 2021.

Pulse Beachfront Launched

As the destination where the Expo is being held, the Dubai South master-development has been garnering all the attention. But, away from the Expo, the ‘city-within-a-city’ has been doing well on other counts too.

For one, it has created more residential options to choose in Dubai, by delivering 1,400 apartments and 240 townhouses at its ‘The Pulse’ community.’

“Following the inauguration of Expo 2020 Dubai, and based on popular demand, The Pulse Beachfront was launched, and the company succeeded in selling out phases one and two, with the final phase due to launch in Q1, 2022,” Dubai South said in a statement. Plots sold to build villas were also sold out.

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