Dubai’s impressive Q1 in real estate deals
The Dubai Land Department (DLD) recently revealed that real estate transactions in the emirate for the first three months of 2018 and the numbers are astonishing.
Real estate deals only for the first quarter of 2018 reached Dh58 billion ($15.7 billion) through 13,759 sales. Sultan Butti bin Mejren, the director-general of DLD, said: “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate sector.”
2019 is expected to be Dubai’s real estate busiest year as Expo 2020 is approaching soon and many significant large projects in Dubai will reach completion.
According to the report issued by DLD’s Department of Real Estates Studies and Research, 9,092 sales transaction worth about Dh19 billion, 3,717 mortgage transactions worth over Dh30.6 billion, and 950 other transactions valued at Dh8.4 billion were recorded in Q1.
The director-general of DLD highlighted that the numbers are expected to rise as they have entered Q2, with the regional real estate gaining a momentum among investors. The Emirate remains an attractive destination for those looking for a safe return on investment, which is evident from the emirate’s base of investors, who belong to more than 217 nationalities from all over the world, maintaining Dubai’s position as a real estate leader.
At the top of the transactions list, Business Bay steals the show with 973 listed transactions worth almost Dh2 billion, followed by Dubai Marina with 720 deals worth Dh1.371 billion.
Dubai’s leadership has recently taken huge steps towards advancing the experience of foreign investors and developing innovative services to enhance these transactions. During these first three months of 2018, 1,773 real estate permits were issued with UAE investors outnumbering other nationalities. They were followed directly by the 1,387 Indian nationals and Saudis in third place.
According to DLD’s report, Dubai is a safe haven for investors seeking real estate opportunities with a high return on investment.
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