DUBAI: The number of real estate transactions made on Monday totaled over 2.4 billion dirhams ($653 million).
According to data released by Dubai’s Land Department, 568 sales transactions worth 1.37 billion dirhams were registered on Sept. 5, along with 93 mortgage deals worth 197.58 million dirhams, and 23 gift deals worth 858.27 million dirhams.
During the last few months, Dubai's real estate market has seen a surge of over 1 billion dirhams in sales transactions. The emirate saw residential property transactions worth 1.8 billion dirhams on September 1.
A total of 503 villas and apartments worth 1.04 billion dirhams and 65 land plots worth 323.78 million dirhams were sold on Sept. 5.
The mortgages covered 71 villas and apartments valued at 164.78 million dirhams and 22 land plots valued at 32.8 million dirhams.
DEWA receives four consultancy contract bids for Dubai solar park’s phase 6
Four international companies have submitted bids to Dubai Electricity and Water Authority for consultancy contracts for phase six of Mohammed bin Rashid Al Maktoum Solar Park.
Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world to use an independent power producer model, which will produce 5,000 megawatts by 2030.
The sixth phase will have a 900 MW production capacity, according to a statement.
DEWA did not provide information about the companies or when the contract would be awarded.
DEWA managing director and CEO Saeed Mohammed Al-Tayer said, “Since its launch, the Mohammed bin Rashid Al Maktoum Solar Park’s projects have received considerable interest from global developers, which reflects the confidence of investors from around the world in DEWA’s major projects in collaboration with the private sector using the Independent Power Producer model.”
He said the solar park’s current production capacity is 1,627 MW.
There will be additional projects at the solar park with a total capacity of 1,233 MW using both photovoltaic solar panels and concentrated solar power technology, which will raise Dubai’s share of clean energy production to 11.5 percent.
Al-Tayer expects this to reach 14 percent by the end of the year.
Using the IPP model, the utility is working on the fifth phase of the project with Saudi Arabia’s ACWA Power and Gulf Investment Corporation.
Emirati artist’s NFTs on display at Dubai’s Time Out Market
A 100-piece non-fungible token artwork has been unveiled by Emirati artist Abdullah Lutfi at Time Out Market Dubai.
Lutfi worked on 100 digital NFTs out of which 50 are digital and on canvas.
Previously, the Emirati artist’s art was displayed at Dubai International Airport and Expo 2020 Dubai, making him one of the most well-known artists in the UAE.
Located next to the Fountain Bar, his NFTs tell the story of Dubai’s history, from old to new, through an exaggerated humorous lens.