Huge sales continue in Dubai’s real estate market during the celebration of Ramadan in the emirate.

As stated by the DLD, the real estate sector in Dubai saw almost AED 10.7B (USD 3B) of property transactions last week. The total number of real estate deals last week totalled 3,035.

According to the DLD report, 158 land plots were sold for AED 1.27B (USD 346M). Apartments and villa sales totalled AED 5.11B (USD 1,4B) and stood at 2,261 transactions.

The top three sales for land plots included a plot in Al Khairan First for AED 157M (USD 43M), land for AED 67M (USD 18M) on Island 2, as well as a AED 59M (USD 16M) land plot on The World Islands.

The largest number of transactions last week was recorded in Al Hebiah Fifth with 52 sales transactions worth AED 165M (USD 45M). This was followed by Madinat Hind 4 with 21 sales deals worth AED 27M (USD 7M) and Jebel Ali First with 14 transactions worth AED 60M (USD 16M).

The top three apartment and villa transfers were an AED 82M (USD 22M) villa, as well as an AED 57M (USD 15.5M) apartment and a AED 55M (USD 15M) apartment in the popular community of Palm Jumeirah.

The value of mortgaged real estate for last week was AED 3.8B (USD 1B). And 123 properties were gifted between first-degree relatives worth AED 597M (USD 163M).

The emirate of Dubai continues to show strong performance in the real estate sector. According to Property Finder, the total value of real estate transactions significantly increased by 178% year-on-year, exceeding AED 28B (USD 7.6B).