UAE - Real estate and property transactions in Dubai were valued at Dh11.5 billion in the week ending March 3, data from the Dubai Land Department showed on Friday. A total of 3,397 transactions were recorded during the period.

Of these, 228 plots of land were sold for Dh2.59 billion, while 2,498 flats and villas were sold for Dh5.54 billion.

The top three land deals were for plots in Business Bay, which were sold for Dh168.28 million, Dh167.81 million and Dh168.28 million respectively.

Al Hebiah District 5 recorded the most transactions this week, with 71 sales transactions worth Dh193.64 million.

This was followed by Wadi Al Safa Zone 3 with 22 sales transactions worth Dh386.68 million and Jabal Ali Zone 1 came in third with 18 sales transactions worth Dh57 million.

The top three transfers of flats and villas were a property in Business Bay for Dhs208 million.

In second place was a flat in Island 2 for Dhs111 million, while a property in Al Qusais First sold for Dhs100 million and came in third.

The total amount of properties mortgaged this week was 2.67 billion, the highest being a piece of land in Jabal Ali First for Dh796 million.

230 properties were granted between first-degree relatives for Dh723 million.