Dubai records $690m in property transactions

Dubai records $690m in property transactions

DUBAI: The value of property transactions in Dubai on the first Friday of the new working week in the UAE stood at more than Dh2.53 billion ($690 million), with 227 transactions.

The total value of property transactions recorded in the first week of the year surpassed Dh7.24bn, with 1,766 transactions, the Dubai Media Office said.

Data from the Dubai Land Department showed that the first working Friday included 173 sales transactions worth Dh2.38bn – 12 of which were land plots worth Dh451.16m and 161 were apartments and villas valued at Dh1.93bn, officials said on Friday, report agencies.

The UAE government announced the shift to a Monday-Friday working week on December 7. Public sector workers at the ministerial level have moved to a four-and-half-day working week, with Friday being a half day.