Dubai registers $689mln worth of transactions on first working Friday of 2022

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DUBAI – The value of real estate transactions in Dubai on the first working Friday following the adoption of the new weekly work system in the country exceeded AED2.53 billion, with 227 real estate transactions. The total value of real estate transactions recorded in the first week of the new year exceeded AED7.24 billion, with 1,766 transactions.

Data from Dubai Land Department (DLD) showed that the first working Friday witnessed 173 sales transactions worth AED2.38 billion, 12 of which were plots of land worth AED451.16 million and 161 were apartments and villas worth AED1.93 billion.

The top three areas that saw the highest value of land sales transactions on Friday were Marsa Dubai, which saw land sales worth AED369 million, followed by Al Thanya Fifth, where a plot of land was sold for AED28 million and Palm Jumeirah where a plot of land was sold for AED17 million.