Landlords Grow Richer

Landlords Grow Richer

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  • Real estate transactions in the UAE totaled over AED10.4 billion, comprising 3,571 transactions. Notably, 120 land plots were sold for AED1.2 billion, while 2,782 apartments and villas were purchased for AED6.86 billion. Among the prominent deals, a land in Al Barsha South commanded AED140 million, followed by transactions in Palm Jumeirah AED106 million, and Al Hebiah Fourth AED91 million.
  • Madinat Hind 4 saw the highest transaction activity with 21 sales totaling AED28.86 million, trailed by Al Hebiah Fifth (20 sales, AED51.65 million) and Jabal Ali First (13 sales, AED80 million). Regarding apartments and villas, top transfers included an apartment in Palm Jumeirah selling for AED112 million, another in Zaabeel First for AED59 million, and a third in Burj Khalifa for AED57 million. The week also saw a total of AED1.99 billion in mortgaged properties, with a land in Business Bay being the highest mortgage at AED350 million.

Why it matters

Furthermore, 109 properties were transferred among first-degree relatives, amounting to AED438 million. The noteworthy real estate transactions of over AED10.4 billion during this week highlight the continued vibrancy of the UAE property market. With substantial sales and mortgage figures, the market demonstrates robust activity, particularly in prominent areas like Palm Jumeirah and Business Bay.


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