Dubai Sees $4.9B in Property Deals Last Week

Post by: Omar Nasser

Last week, Dubai’s property market was very active. It made a total of AED17.99 billion, which is about $4.9 billion. This information came from the Dubai Land Department. Most of this money came from people buying and selling homes. The value of these sales was AED13.52 billion, or around $3.7 billion.

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Between April 14 and April 18, there were 4,662 homes sold in the city. Some of these homes were very costly. One flat in The Alba Residences on Palm Jumeirah was sold for AED61.3 million, or $16.7 million. Another flat in Address Grand Downtown near Burj Khalifa was sold for AED51.6 million, which is about $14.1 million. A second flat in The Alba Residences also sold for the same price.

Besides buying and selling, there were also many home loans. On Monday, the Land Department said that people took loans worth AED3.66 billion, which is about $996.5 million.

Some homes were given as gifts to others. These gift homes were worth AED805.4 million, or about $219.3 million.

These numbers show that people are still very interested in buying and selling homes in Dubai. The market is strong, and both expensive and normal homes are being sold.

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