The value of property transactions in Dubai on the first Friday of the new working week in the UAE stood at more than Dh2.53 billion ($690 million), with 227 transactions.
The total value of property transactions recorded in the first week of the year surpassed Dh7.24bn, with 1,766 transactions, the Dubai Media Office said.
Data from the Dubai Land Department showed that the first working Friday included 173 sales transactions worth Dh2.38bn – 12 of which were land plots worth Dh451.16m and 161 were apartments and villas valued at Dh1.93bn, officials said on Friday.
The UAE government announced the shift to a Monday-Friday working week on December 7. Public sector workers at the ministerial level have moved to a four-and-half-day working week, with Friday being a half day.
Private companies are free to decide whether they will adopt the new working week but many businesses have already committed to the switch.
The property market in the UAE, the second-largest Arab economy, has made a strong recovery from the pandemic-driven slowdown on the back of the government's fiscal and monetary measures.
Pent-up demand and improved investor sentiment have also helped to drive property sales, particularly in Dubai and Abu Dhabi, amid the pick-up in economic activity.
Last year, there were 84,772 property transactions worth Dh300bn in Dubai, the emirate's land department reported.
The top three areas that recorded the highest value of land sales transactions on Friday were Marsa Dubai, with land sales worth Dh369m, Al Thanya Fifth, where a plot of land was sold for Dh28m, and The Palm Jumeirah, where a plot of land went for Dh17m.
Dubai’s Jebel Ali First area recorded the highest number of transactions on Friday, with three sales transactions worth Dh6m. It was followed by The Palm Jumeirah, with a Dh17m sales transaction, and Warsan First, with a Dh4m sales transaction.
The three highest-valued sales transactions involving transfers of apartments and villas included a Dh500m transaction in The Palm, followed by a Dh495m transaction in Marsa Dubai and a Dh402m deal, also in Marsa Dubai.
Jebel Ali First had the most villa and apartment sales transactions on Friday, with 23 transactions worth Dh18m. Business Bay and Al Barsha South Fourth recorded 21 sales transactions (Dh25m) and 13 sales transactions (Dh16m), respectively.
The total value of mortgage transactions concluded on Friday was Dh125.03m, the media office said. The biggest mortgage transaction was registered in Al Thanya Fourth, with a value of Dh37m, followed by Nad Al Sheba Third at Dh11m.
Five properties worth Dh19.16m were granted to immediate family members. Among these, the highest value of Dh12m was registered in Al Merkadh.
RESULTS - ELITE MEN
1. Henri Schoeman (RSA) 57:03
2. Mario Mola (ESP) 57:09
3. Vincent Luis (FRA) 57:25
4. Leo Bergere (FRA)57:34
5. Jacob Birtwhistle (AUS) 57:40
6. Joao Silva (POR) 57:45
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57
9. Gustav Iden (NOR) 57:58
10. Richard Murray (RSA) 57:59
Meydan Racecourse racecard:
6.30pm: The Madjani Stakes Listed (PA) | Dh175,000 | 1,900m
7.05pm: Maiden for 2-year-old fillies (TB) | Dh165,000 | 1,400m
7.40pm: The Dubai Creek Mile Listed (TB) | Dh265,000 | 1,600m
8.15pm: Maiden for 2-year-old colts (TB) | Dh165,000 | 1,600m
8.50pm: The Entisar Listed (TB) | Dh265,000 | 2,000m
9.25pm: Handicap (TB) | Dh190,000 | 1,200m
10pm: Handicap (TB) | Dh190,000 | 1,600m.
Mubadala World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
Results:
2.15pm: Handicap (PA) Dh60,000 1,200m.
Winner: AZ Dhabyan, Adam McLean (jockey), Saleha Al Ghurair (trainer).
2.45pm: Maiden (PA) Dh60,000 1,200m.
Winner: Ashton Tourettes, Sam Hitchcott, Ibrahim Aseel.
3.15pm: Conditions (PA) Dh60,000 2,000m.
Winner: Hareer Al Reef, Gerald Avranche, Abdallah Al Hammadi.
3.45pm: Maiden (PA) Dh60,000 1,700m.
Winner: Kenz Al Reef, Gerald Avranche, Abdallah Al Hammadi.
4.15pm: Sheikh Ahmed bin Rashid Al Maktoum Cup (TB) Dh 200,000 1,700m.
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
4.45pm: The Crown Prince Of Sharjah Cup Prestige (PA) Dh200,000 1,200m.
Winner: ES Ajeeb, Sam Hitchcott, Ibrahim Aseel.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier
Final: UAE beat Qatar by nine wickets
Third-place play-off: Kuwait beat Saudi Arabia by five runs
Table
1 UAE 5 5 0 10
2 Qatar 5 4 1 8
3 Saudi 5 3 2 6
4 Kuwait 5 2 3 4
5 Bahrain 5 1 4 2
6 Maldives 5 0 5 0
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
