On the first working Friday following the adoption of the new weekly work system in Dubai, the value of real estate transactions exceeded AED2.53 billion, with 227 real estate transactions. There were 1,766 real estate transactions in the first week of the new year, totaling AED7.24 billion.
Dubai Land Department (DLD) data shows there were 173 sales transactions worth AED2.38 billion on the first working Friday, 12 of which were plots of land worth AED451.16 million and 161 of which were apartments and villas worth AED1.93 billion.
Marsa Dubai, Al Thanya Fifth, and Palm Jumeirah had the highest value land sales on Friday — a plot of land in Al Thanya Fifth sold for AED28 million and a plot in Palm Jumeirah sold for AED17 million.
Three transactions worth AED6 million were recorded at Jebel Ali First on Friday, followed by a transaction worth AED17 million at Palm Jumeirah, and a transaction worth AED4 million at Warsan First.
AED500 million was the highest value of the three transactions involving transfers of apartments and villas in Palm Jumeirah, AED495 million in Marsa Dubai, and AED402 million in Marsa Dubai.
With 23 sales transactions worth AED18 million, Jebel Ali First recorded the most villa and apartment sales on Friday, followed by Business Bay with 21 sales transactions worth AED25 million; and Al Barsha South Fourth with 13 sales transactions worth AED16 million.
In total, there were AED125.03 million worth of mortgage transactions on Friday, which included nine mortgage transactions for land worth AED47.88 and 40 mortgage transactions for villas and apartments worth AED77.15. The largest mortgage transaction was recorded in Al Thanyah Fourth with a value of AED37 million, followed by an AED11 million mortgage transaction in Nad Al Sheba Third.
First-degree relatives received five properties worth a total of AED19.16 million. AED12 million of these properties were registered in Al Merkadh, followed by AED3 million in Jebel Ali First.