Dubai – Mubasher: The Dubai Land Department (DLD) on Monday announced that the emirate's real estate market has recorded a high-transaction volume during the last 10 days of 2018.
Property deals in Dubai recorded AED 19 billion ($5.17 billion) during the last 10 days of 2018 through 2,081 transactions, according to the DLD’s statement.
“These recorded transactions within a short time reflect renewed confidence in our real estate market, especially in light of Expo 2020 preparations,” DLD director general Sultan Butti bin Mejren said.
This is considered a positive indicator of a rising wave in the real estate sector that is expected to begin in the New Year.
“The investors’ decisions stem from their monitoring of successive developments regarding government legislation that guarantees their rights, in addition to the incentive environment established by the government to invest in this sector and ensure long-term rewarding returns on investment,” bin Mejren added.
Mortgage and other transactions exceeded AED 19 billion during the period between 17 and 31 December.
Al Warsan First came in first with 200 transactions worth AED 111 million in terms of the total amount of all land, building, and unit transactions.
“After launching a comprehensive package of smart applications, the level of interest of foreign investors increased, allowing them to recognise the features Dubai’s unique real estate sector, and the variety of products offered in the market that suit different buyers,” Bin Mejren pointed out.
