The Dubai Land Department reported on the scale of property deals conducted in the first three months of 2018 in the emirate. Read more for the full report highlights.
The whole budget for the real estate transactions registered by Dubai’s main regulative authority, the DLD, totalled AED58 billion.
This amount was harvested through 13,759 property sales.
Commenting on the fresh report’s data, Sultan Butti bin Mejren, Director-General of DLD, emphasized that "The Dubai real estate market continues to show growth, driven by general optimism and confidence in the real estate sector."
"Achieving almost AED58 billion in transactions shows strong momentum in the real estate sector for Q1, and we expect this to raise the Q2 transaction index and continue to rally before the end of the year.
"Analysts and experts predict an upsurge as we enter 2019 with unprecedented strength, as many strategic infrastructure projects are due to be completed in Dubai in preparation for Expo 2020," he added.
Dubai remains one of the most attractive destinations in the Middle East for investors belonging to more than 217 nationalities from all over the world. They’re seeking a high return on investments, as well as a safe haven for their money, and Dubai has it all to cater their needs, the report says.
Among them, GCC investors led the way in Q1, having conducted nearly 2,500 deals worth over AED6 billion in total, while 5,041 other foreign investors closed more than 5,000 transactions with a total value over AED10 billion.
As for top locations, the report named
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