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Dubai closes $5bln worth real estate transactions in the last decade of December

06.01.2019

A tremendous surge in property sales in the last 10 days of the 2018 also indicates an increase in the real estate sector activity forecasted to begin in 2019.

Dubai Land Department (DLD) registered an overwhelming surge of property sales transactions in the last decade of December. Sultan Butti bin Mejren, Director General of DLD, revealed that overall value of the Dubai's property units sold during the mentioned period has reached AED19 billion through 2,081 deals. He also emphasized that such situation will have a crucial impact on the analytical yearly accounting as for 2018's Dubai property sector’s outcomes.

2,081 transactions, including sales made through mortgages, worth over AED19 billion were closed during the period from 17 - 30 December 2018. Over AED1 billion worth transactions were registered each day, reaching their highest on 24 December with deals worth about AED3.6 billion.

Among Dubai areas Al Hebiah Third ranked first in terms of land sales with 25 transactions registered in ten days bringing about AED69 million to sellers.

And as for the rest of residential developments with the highest number of property deals closed during the same period, Al Warsan First came first with 200 transactions worth AED111 million, followed by Business Bay with 115 transactions worth AED149 million. Marsa Dubai came in third place with 98 transactions worth AED161 million.

Other well-performing areas included Al Barsha South Fourth, Burj Khalifa and Palm Jumeirah.

What new year of 2019 has for us to offer, we’ll see after the first statistical property market performance reports come out. Subscribe to our daily newsletter in order to get more quality information on the state of the housing market in Dubai in the new year.

IMEX Real Estate wishes you success in the new year, and will help you realize all your dreams you’ve dreamed of on the New Year's Eve. Please, don’t hesitate to contact us at:

Tel.:+971(50)2528188 (Whatsapp, Viber, Telegram)

Toll Free: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

Skype: resident69

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