According to the most recent data from the Dubai Land Department released on Friday, Palm Jumeirah continues to be the preferred location in Dubai for ultra-rich real estate investors.
According to statistics, Dubai’s man-made island continues to be the location of choice for individual plot sales as well as for apartments and villas in the emirate. The top two land deals in Dubai last week, both on the Palm Jumeirah, were each worth Dh130 million, and they were followed by a third deal at Dh68 million.
The top three transfers for flats and villas included the sale of a Palm Jumeirah property for Dh145 million, followed by the sales of apartments for Dh81 million and Dh62 million.
During the week ending November 18 in Dubai, there was Dh8.7 billion worth of real estate and property transactions. 2,233 homes and villas were sold for Dh5.04 billion, while 3,011 plots totaling 230 were sold for Dh1.7 billion.
This week, Al Hebiah Fifth recorded the highest transactions with 68 purchases worth Dh194.43 million. Jabal Ali First came in second with 43 sales worth Dh147.72 million, and Nad Al Shiba First came in third with 21 sales at Dh153 million.
The total value of the mortgaged real estate for the week was Dh1.39 billion, with Al Mezhar Second having the highest mortgage of Dh200 million. There have been 87 property transfers worth Dh714 million among first-degree relatives.