Over DH113 billion real estate deals in Dubai confirmed in half a year

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Dubai’s Land Department (DLD) has garnered a total amount of $30.7 billion or more than AED113 billion real estate transactions during the first six months this 2014.

Over DH113 billion real estate deals in Dubai confirmed in half a year

Over DH113 billion real estate deals in Dubai confirmed in half a year

According to the financial study submitted by the Real Estate Research and Studies Department, there was a 22, 096 deals worth AED1.5 billion ($16.7 billion) real estate sales which accounts to 54% of the total transactions over this period while 42% of DLD ‘s dealings goes to Mortgages over the same timeframe totaling  6,922 transactions for AED 47.3 billion. Other property transactions were recorded at 1,389 with a total value of over AED4.6 billion ($1.2bn). The report found that the combined number of all transactions for Q1 and Q2 was 30,380.

According to DLD, the amount interest and increasing number of investors that the Dubai Real Estate market receives are probably brought by the improved buoyancy after winning the title to host the World Expo 2020. Another reason is the intensifying solvency of the main companies in the market, proven with the markets capacity to reinforce and promote a variety of products to encourage investors.

It is said that these results verify that the market is being cushioned by the drive of supporting demand.  Due to this, the city is expected to stand its ground as a leader in both regional and global markets, for the most part as it provides higher returns on investments.

Mohamed Dekkak