For our weekly real estate report, a total of 3,903 real estate transactions worth AED 10 billion were conducted during the week ending 17th March, 2023, according to figures released by the Dubai Land Department (DLD).
The DLD report revealed that 208 plots were sold for AED 1.12 billion, while 2,906 apartment and villa sales totalled AED 6.25 billion.
The top three transactions were three lands in Al Jadaf sold for AED 38.5 million, AED 38.5 million, and AED 37 million respectively.
Now, let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below.
Property News This Week
Buyers and investors snap up off-plan property in Expo City Dubai
A mixture of buyers from investors to first-time home owners have booked apartments that will be built overlooking Expo City Dubai attractions.
MAG launches plots for sale at $816m Dubai residential project
MAG, a leading real estate developer in the UAE, has announced the launch of 90 villa plots for sale at its Keturah Reserve, a AED3 billion ($816 million) luxury residential project in Mohammed Bin Rashid City, District 7 in Meydan, which offers transformational living through the design of space.
Non-oil sector to drive UAE’s robust growth in 2023
The real estate sector continues to perform strongly, driving the growth momentum. Sale prices of residential homes had been falling for several years, but the market is now rebounding, with house prices rising in Abu Dhabi and property sales in Dubai hitting decade highs in recent months
‘Russia outside Russia’: For elite, Dubai becomes a wartime harbour
A year into a historic onslaught of economic sanctions against Russia over its invasion of Ukraine, Russia’s rich are still rich. And in Dubai, the United Arab Emirates’ biggest city, they have found their wartime harbour.
Dubai’s popular residential areas record hike in price, demand
Jumeirah, Palm Jumeirah, and Downtown Dubai recorded the highest increase in the apartment market.