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Next Level Real Estate has reported a robust weekly growth of 10% in the number of real estate transactions in Dubai

  • Grand News Network
  • July 29, 2023
Next Level Real Estate has reported a robust weekly growth of 10% in the number of real estate transactions in Dubai

Next Level Real Estate Dubai, a professional real estate agency in Dubai, today announced the robust performance of the Dubai real estate market for the week ending July 28, 2023.

Data extracted from the Dubai Land Department (DLD) website revealed a strong week of transactions with a total value of AED 15.624 billion ($4.3 billion) recorded. This represents a 17.78% increase in transaction volume compared to the previous week.

Of the total transactions, off-plan properties accounted for AED 4.2 billion ($1.1 billion), constituting a 27.27% share of the market. This is the highest share of off-plan transactions observed in over a year.

The most selling project in July was Damac Bay, with 645 units sold worth AED2.9 billion ($780 million). Other notable off-plan projects that saw strong sales activity include Elvira (410 units sold worth AED966.6 million), Seapoint (346 units sold worth AED2 billion), and Creek Beach – Savanna-Cedar-Mangrove (295 units sold worth AED536.6 million).

The top three transactions of the week were:

  • A land in Palm Deira sold for AED167.88 million ($45.8 million)
  • A land in Business Bay sold for AED136 million ($37.2 million)
  • A land in Al Thanyah First sold for AED125 million ($34.2 million)

The most active areas for sales transactions were Al Hebiah Fifth, Al Goze Second, and Madinat Hind 4. Meanwhile, the most active areas for apartment and villa transfers were Um Suqaim Third, Palm Jumeirah, and Zaabeel First.

The total value of mortgaged properties for the week reached AED 3.02 billion ($820 million). Meanwhile, 196 properties, worth AED 2 billion ($540 million), were granted between first-degree relatives.

We are extremely pleased with the robust performance of the Dubai real estate market this week,” said Abdul Ahad Siddqui, Managing Director at Next Level Real Estate Dubai Agency. This clearly indicates the continued rise of the market, underscoring the strong demand for real estate in Dubai.

Media Contact

Organization: Abdul Ahad Siddiq

Contact Person: Next Level Real Estate

Website: Https://www.nextlevelrealestate.ae

Email: media@nextlevelrealestate.ae

Contact Number: +971 4 454 2828

Address: Opal Tower – 1505 – Burj Khalifa Blvd

City: Dubai

State: Dubai

Country: United Arab Emirates


Release Id: 2907234991

The post Next Level Real Estate has reported a robust weekly growth of 10% in the number of real estate transactions in Dubai appeared first on King Newswire.


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