Real estate transactions in Dubai exceeded Dh267 billion ($72,7 bln) with 22.5 percent increase in Dubai, according to the Dubai Land Department’s latest report.
The reports issued by our experts assure that the Dubai market has reached a stage of wise maturity and rational dealing with the requirements by the various sides in the real estate market,” said Director-General Sultan Butti bin Merjen.
Bin Mejren added: “The market has become has become more innovative, inspired by the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and the developers were keen to boost the new projects with facilities that aim to satisfy the residents. Keeping this momentum for years, proves that the real estate market in Dubai is able to continue to attract investors from around the world, which means that it is still likely to maintain sustainable growth again for years to come.”
According to the report, the sales crossed the 48,000 transaction with a total value of Dh130 billion, while mortgages crossed 12,000 with a total value of Dh117 billion.