Dubai real estate market posts $870 million property deals on Thursday
The Dubai real estate market posted property deals to the tune of $870 million (AED 3.2 billion) on Thursday, continuing with the surge in demand for property investments in the city this week.
The city witnessed property deals worth over $1 billion in two days in a row early this week – $1.1 bn on Tuesday and over $1 billion on Wednesday, according to data by Dubai’s Land Department (DLD).
Thursday’s property deals included 669 sales transactions worth AED 2.91 billion, 134 mortgage deals totalling AED 268.19 million, and 89 gift deals amounting to AED 101.47 million, DLD data showed.
The sales included 567 villas and apartments worth AED1.84 billion, and 102 land plots worth AED1.08 billion.
The mortgages included 104 villas and apartments worth AED 177.39 million and 30 land plots valued at AED 90.8 million.
The Dubai real estate sector has been seeing a bull run for the last several weeks and months, and is expected to post an even higher growth rate in the second half of this year.