As per a report published on Thursday by the Dubai Land Department (DLD), 1,557 real estate and property transfers worth Dhs3.4 billion were reported throughout the week ending May 6, 2021.

Dhs486.92 million was paid for 111 plots, and Dhs1.87 billion was paid for 1,027 apartments and villas.

The top three transfers were land in Al Thanayah Fourth sold for Dhs37.5 million, a land in Palm Jumeirah sold for Dhs37 million, and land in Al Thanayah Fourth sold for Dhs37.5 million in the third position.

Al Hebiah Third had the most transfers this week with 30 sales transactions valued at Dhs64.78 million, led by Hadaeq Sheikh Mohammed Bin Rashid with 15 financial transactions valued at Dhs121.1 million and Nad Al Shiba First in the third position with 15 financial transactions costing Dhs37 million.

The top three apartment and villa transactions are an apartment sold for Dhs336 million in Marsa Dubai, an apartment sold for Dhs217 million in Palm Jumeirah, and another apartment sold for Dhs129 million in Palm Jumeirah.

The total value of mortgaged assets for this week is Dhs1 billion, with the largest amount being Dhs91 million for a property in Al Thanyah First.

A sum of 63 properties worth Dhs110 million was awarded to first-degree relatives.

The Dubai Land Department lately reported that a total of 6,590 real estate purchases worth approximately Dhs22.9 billion were registered in Dubai in March 2021. As per the real estate newsletter, the sector increased in number by 43% and in volume by 40% as compared to March 2020. It also mentioned that the number of real estate transfers in March 2021 had been the second-highest since February 2017. And as per the newsletter, real estate sales increased by 27% and 47% in Q1 2021, overall, in contrast to Q1 2020 and Q1 2019. According to the newsletter, the real estate market remains tempting to new buyers, as 5,683 new investors joined the industry in Q1 2021, accounting for 64% of all investors over the same time.