DUBAI: The real estate market in the UAE continues to boom as the week ending 17 February 2023 saw a staggering 2,702 real estate transactions taking place, with a total value of AED10.4 billion.
Among these transactions, 221 plots and 1,866 apartments and villas were sold for a whopping AED1.42 billion and AED4.63 billion respectively.
The top three transactions of the week were all in the sought-after Business Bay area, with a land sale leading the pack at AED150 million, followed by another land sale for AED75 million, and a third land sale for AED150 million.
Moreover, a total of AED3.55 billion worth of properties were mortgaged during the week, with the highest value belonging to land in Al Warsan First that was mortgaged for AED1 billion.
These figures are a testament to the robustness of the UAE’s real estate market, which continues to attract investors from all around the world.
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