Real estate transactions at the Dubai Land Department totaled more than 5.4 billion dirhams last week, with the department recording 1,223 sales worth 2.89 billion dirhams, including 88 land sales worth 620.22 million dirhams and 1,135 apartment and villa sales worth 2.27 billion dirhams.
The largest land sales totaled 121 million dirhams in the Island 2 area, followed by a sale worth 50 million dirhams in the Palm Deira area, and then a sale worth 49 million dirhams in the Sheikh Mohammed bin Rashid Gardens area.
The Nad Al Sheba 1 area led all areas in terms of the number of sales, recording 19 sales worth 66 million dirhams, followed by the Sheikh Mohammed bin Rashid Gardens area with 9 sales worth 132 million dirhams, and third was Jumeirah 1 with 9 transactions worth 62 million dirhams.
As for the most significant apartment and villa sales, a transaction worth 72 million dirhams in the Palm Jumeirah area was the largest, followed by a transaction worth 52 million dirhams in the Al Markaz area, and finally a transaction worth 37 million dirhams in the Gulf Commercial District.
The Dubai Marina area led all areas in terms of the number of apartment and villa sales, recording 145 sales worth 405 million dirhams, followed by the Al Barsha South 4 area with 134 sales worth 94 million dirhams, and third was Al Thania Fifth District, with 128 sales worth 142 million dirhams.
Mortgages totaled 2.51 billion dirhams, including 54 land mortgages worth 288.11 million dirhams, and 316 mortgages on villas and apartments worth 2.23 billion dirhams. The most significant of these were in the Al Wasl area, worth 1 billion dirhams, and another in the Al Barsha South area, worth 155 million dirhams.
As for donations, 24 donations were recorded, totaling 73.07 million dirhams. The most significant were in the Palm Jumeirah area, valued at 33 million dirhams, and another in the Warsan 4 area, valued at 9 million dirhams.
Meanwhile, the value of real estate transactions in the Emirate of Ajman reached 5.7 billion dirhams during the first half of this year, while the total transaction volume amounted to 2.99 billion dirhams from a total of 3,026 transactions.
Real estate statistics released by the Ajman Land and Real Estate Regulatory Authority showed a 91.7 percent increase in transactions compared to the same period in 2020, which saw 1,578 transactions recorded, During the same period, the department also successfully completed 10,423 transactions, representing a 72.4 percent increase compared to the 6,045 transactions completed during the same period in 2020.
His Excellency Engineer Omar bin Omeir Al Muhairi, Director General of the Land and Real Estate Regulatory Authority, explained that these figures and statistics confirm the resilience of the real estate market in the Emirate of Ajman, which has maintained its competitiveness and witnessed a remarkable recovery since the beginning of this year, given theavailable investment opportunities and the facilities provided by the government to businesspeople and investors, as well as the high quality of government services and the speed and ease with which transactions are completed.
He emphasized that the Ajman government’s swift and proactive response to the repercussions of the COVID-19 pandemic through supportive economic stimulus packages has bolstered investor confidence and actively contributed to the Ajman real estate market’s adaptation to the changes imposed by the pandemic.
