The first 15 days of the year sure has provided Dubai’s property market with a ballast — Dh12 billion worth of transactions were done during the period in both the freehold clusters and outside.
A unit in Burj Khalifa recorded a sale of Dh18 million plus and another for Dh12 million. Palm Jumeirah followed by selling a home at a price tag of Dh10.5 million.
Land-related transactions took up Dh7.5 billion of these from 520 transactions, with cash sales adding up to Dh3 billion from 302 deals. Mortgage-based ones made up 190 transactions and Dh4 billion.Sales of buildings notched up Dh682 million, with those transacted on cash totalling 287 and worth Dh532 million.
The largest investment deal during the first fortnight was for a piece of land in the Zabeel 2 area, acquired for over Dh584 million. There were followed by two plots in the Al Markaz Al Tujari 2 (sold for Dh435 million) and Dh114 million in Jebel Ali.
For buildings, Jebel Ali was the favoured spot with one going for Dh5.2 million, followed by one in Al Quoz for Dh4.6 million.
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