Dubai Land Department revealed official data: the emirate attracted AED78 billion of investments in real estate sector so far this year. Read more to find what other steps DLD plans to take in order to improve Dubai’s investment climate.
Due to immaculately designed projects of highest quality maintaining a consistently high capital value throughout months and years, Dubai's property market managed to attract AED78 billion of investments in real estate from January 2017 to date, DLD said in its official statement.
“These figures reflect the world's confidence in Dubai's real estate market, which is based on a strong system of regulatory legislation that guarantees the rights of all," said Majida Ali Rashid, assistant director-general and head of the Real Estate Investment Management and Promotion Center - the investment arm of Dubai Land Department.
Recently, Dubai Land Department organized several roadshows presenting Dubai real estate to Hong Kong, London, Mumbai and Shanghai public, with the last two of which attracted AED1.2 billion and AED800 million of direct investments, respectively. Currently, DLD is exploring new destinations for promoting the emirate’s real estate market through its flagship event, the Dubai Property Show.
Over the last 18 months, representatives of 217 different nationalities chose residential apartments and commercial property units in Dubai’s projects for investing their money in real estate. And, according to a survey conducted by Cityscape Global 2017 organizers, 59 per cent of respondents also preferred Dubai as the main destination for investing in real estate. At the same time, the average amount of money buyers are willing to spend on Dubai housing units increased from USD 561,000 to USD 717,000 since last year.
Apart from other improvements, DLD has also reported of signing an agreement with the Mashreq Bank to provide banking services for real estate transactions, both domestically and abroad.