DUBAI: Like we all know, Dubai is the capital and financial hub of the United Arab Emirates. The city has achieved many feats which have made it a top shot location in the entire Middle-East. As expected, Dubai city is blasting from all major power cylinders. Following the current trend, the real estate sector in Dubai is not left out for it is a billion dollar sector that helps drive the economy. In the week ending Dec. 24, 2020 a total of AED4.6 billion ($1.25 billion) worth of real estate transactions took place in Dubai, according to the latest figures from the emirate’s Department of Land and Property.
The top three transfers for apartments and villas on the resale market were an apartment sold for AED230 million in Marsa Dubai area in Dubai Marina. Another unit worth AED105 million was sold in Business Bay and an apartment in Burj Khalifa, the world’s tallest skyscraper, took the third spot with a price tag of AED94 million. (WAM/File Photo)
Despite the limited land in Dubai, multiple land sales take place on weekly bases. A report issued by WAM, the UAE news agency, showed that the transactions included the sale of an apartment in the Marsa Dubai area valued at AED 230 million and the sale of two AED60 million plots of land on the famed Palm Jumeirah.
Recently, the official sales figures showed that a total of 92 plots of land and 808 apartments and villas were sold during the week.
Looking at the top transfers for apartments and villas on the resale market, after the Marsa Dubai apartment came a unit worth AED105 million in Business Bay, followed in third place by an apartment in Burj Khalifa, the world’s tallest skyscraper, with a price tag of AED94 million.
From the foregoing, one could clearly