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DLD revealed data on the Dubai property market’s activity during the first year’s half. Read more to find who, how much and on what units was spending money at Dubai real estate industry during H1.
Dubai property market participants have concluded an overall 27,642 of deals worth AED 111 billion in total during the first half of 2018, Dubai Land Department’s latest official data reveals.
These included 18,191 sales transactions worth nearly AED 40 billion, and 7,668 mortgage deals valued over AED 57.6 billion, which indicated that mortgage-related transactions tend to overweight other deals in terms of total value of properties sold.
“Granting investors a UAE residency visa for up to 10 years and reducing government fees included in previous initiatives will be of the most important incentives for economic growth in the Emirate, as they will have a positive impact on reducing business costs and will support Dubai's position as one of the best investment destinations in the world," said Sultan Butti bin Mejren, DLD Director General.
More than 15,000 investors from 143 countries (including the UAE and other GCC countries) invested in the Dubai's real estate market in H1-18, totaling 19,371 deals worth around AED 37 billion.
GCC nationals topped the list with AED 11.6 billion of investments, followed by Indian investors with 3,218 investments worth AED 5.9 billion.
“Expo 2020 is close at hand, and developers in the market are expressing interest in aligning with the directives of the wise leadership to turn Dubai into a global pioneer and an attractive investment hub in support of Dubai Strategic Plan 2021,” Bin Mejren added.
And as for the top locations in terms of real estate transactions number and their total value, was the most attractive area for investors, who finished nearly 2,000 transactions worth about AED 4.2 billion with local property, followed by with 1,445 registered deals valued at AED 2.9 billion in total, and, finally, Al Merkadh area, where , an extremely popular project at the huge MBR City development, attracted AED 2.1 billion of investments through 1,262 deals.
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