Dubai’s real estate market recorded deals worth AED708.27 million ($192.7 million) on Wednesday, including 283 sales transactions worth AED580.54 million and 48 mortgage deals of AED104.87 million in addition to 12 gift transactions amounting to AED22.86 million, a media report said.

The sales covered 194 units, 31 buildings, and 58 land plots, while the mortgages included 20 units, 5 buildings and 23 land plots, reported state news agency WAM, citing data released by Dubai Land Department (DLD).

Dubai witnessed a notable rise in residential transactions over Q2 of 2021, with positive market sentiment and continued international buyer interest driving sales, according to the latest research by leading international real estate services firm, Chestertons.

The findings, revealed in the latest “Observer: UAE Q2 2021 Market Report”, showed that total residential transaction value in Dubai increased by almost 50% Quarter-on-Quarter to AED31.02 billion, up from AED20.77 billion the previous quarter.