Dubai Sees Major Land Sale in Airport City for 1.22 Billion Dirhams
A significant transaction highlights ongoing activity in Dubai's real estate market with a focus on residential land.
On Monday, Dubai recorded a notable real estate transaction involving the sale of residential land in Airport City for 1.22 billion dirhams (approximately $331 million USD).
According to data from the Dubai Land Department, the land spans an area of 13.579 million square feet, resulting in a price of 90 dirhams (around $24.50 USD) per square foot.
In addition to this major sale, the day's real estate activity included a total of 997 transactions across the market, amounting to an aggregate value of 4.06 billion dirhams (about $1.1 billion USD).
The transactions comprised 642 residential units, 130 buildings, and 225 plots of land.
This surge in real estate activity aligns with Dubai's ongoing strategy to bolster its property market, which has shown resilience and growth, even amidst global economic challenges.
The emphasis on residential development in strategic locations like Airport City reflects the emirate's broader developmental goals.
According to data from the Dubai Land Department, the land spans an area of 13.579 million square feet, resulting in a price of 90 dirhams (around $24.50 USD) per square foot.
In addition to this major sale, the day's real estate activity included a total of 997 transactions across the market, amounting to an aggregate value of 4.06 billion dirhams (about $1.1 billion USD).
The transactions comprised 642 residential units, 130 buildings, and 225 plots of land.
This surge in real estate activity aligns with Dubai's ongoing strategy to bolster its property market, which has shown resilience and growth, even amidst global economic challenges.
The emphasis on residential development in strategic locations like Airport City reflects the emirate's broader developmental goals.
