UAE – Mubasher: The emirate of Dubai has registered AED 17.5 billion sales of properties during the first five months of 2019, according to recent data by the Dubai Land Department (DLD), Al Khaleej newspaper reported.
The ongoing projects have made up the largest stake of sales by 59% or AED 10.3 billion, while the completed projects accounted for AED 7.17 billion.
Total deals, including sales and mortgages, in Dubai’s real estate market amounted to AED 95.4 billion in the five-month period, data showed.
Mortgages amounted to AED 61 billion representing 70% of the total transaction, while sales amounted to AED 34.161 billion.
Buildings’ sale transactions amounted to AED 4.122 billion; AED 2 billion for under-construction buildings and AED 2.1 billion for completed ones.
Transactions on lands in the emirate came in the first place with total deals worth AED 70.6 billion, while mortgages valued at AED 56.6 billion, versus sales of around AED 14 billion.
The real estate units came in the second spot with AED 20.7 billion deals, distributed as 85% or AED 17.5 billion sales, while mortgages reached AED 3.233 billion.
