Dubai sees boom in property deals

A total of $790 million was spent on real estate transactions in Dubai in the week ending November 5.The Department of Land and Property in Dubai recorded a total of 1,241 deals which included 44 plots sold for a total of $48.08 million and 854 apartments and villas sold for $405 million. The top two transactions were land in Al Merkadh and in Al Barsha South Forth which fetched which $4.45 million and $3.43 million

The weekly statistics come on the back of a positive September and third quarter in Dubai’s property sector. According to the department, there was a 55% increase in sales volumes for Q3 and a 65% increase in total value compared to the previous quarter.

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