A billion-dirham land grant on Palm Jumeirah

The Dubai real estate market saw a total of 3.85 billion dirhams in transactions on Wednesday, with 793 procedures reported by the Land Department. Donations amounted to 1.07 billion dirhams, with the highest grant being for land worth one billion dirhams on Palm Jumeirah.

Sales reached 2.27 billion dirhams through 632 deals, with Mankhool leading in sales volume with 213 million dirhams. Residential unit sales totaled 1.25 billion dirhams, with Palm Jumeirah dominating in sales value.

Land sales approached 1.01 billion dirhams through 71 deals, with Mankhool leading in sales value. Mortgages totaled 506 million dirhams from 140 procedures, with Business Bay recording the highest mortgage value.

Overall, the real estate market in Dubai displayed various trends with different areas and types of properties experiencing high levels of activity and transactions.

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