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Dubai sees real estate deals worth Dh19 billion in last 10 days

Dubai sees real estate deals worth Dh19 billion in last 10 days

Khaleej Times, 31 December, 2018

Dubai’s real estate market recorded a high transaction volume during the last 10 days of 2018, with a value of over Dh19 billion through 2,081 transactions.

Sultan Butti bin Mejren, director-general of the Dubai Land Department (DLD), said these figures are a positive indicator of a rising wave in the real estate sector, which is expected to begin in 2019.

“This activity affirms the attractiveness of Dubai’s real estate sector, specifically the demand from buyers and investors who are benefitting from legislation and investment incentives in Dubai. These recorded transactions within a short time reflect the renewed confidence in our real estate market, especially in light of Expo 2020 preparations,” he noted.

The transactions worth more than Dh19 billion were concluded from December 17 to 30, 2018. These transactions were being recorded daily and were more than Dh1 billion, peaking on December 24 with transactions worth nearly Dh3.6 billion.

Al Hebiah Third ranked first in land sales transactions with 25 transactions worth Dh69 million.

In terms of building sales, Wadi Al Safa 5 came in first place with 43 transactions worth Dh65 million, followed by Wadi Al Safa 7 with 20 transactions worth Dh34 million. Al Yelayiss 2 came in third place with 13 transactions worth Dh19 million.

Al Thanayah Fourth came in first place regarding building mortgages with 15 transactions worth Dh23 million, followed by Al Yelayiss 2 with 12 transactions worth Dh11 million.

In terms of unit sales, Al Warsan First came in first place with 196 transactions worth Dh86 million, followed by Business Bay with 115 transactions worth Dh149 million. 

Business Bay came in first place in terms of unit mortgages with 44 transactions worth at a record of Dh326 million. Al Barsha South Fourth came in second place with 34 transactions worth Dh17 million.