Dubai realty market witnesses a flurry of transactions before year end

1 min read

dubai-realty-market-witnesses-a-flurry-of-transactions-before-year-end.jpg

For the last 10 days of 2018, the Dubai real estate market witnessed a flurry of real estate transactions. The transaction volumes hit the roof for the last 10 days with 2, 081 deals recorded with a cumulative value of approximately Dh19 billion. As per DLD reports, these numbers are strongly indicative of the growth and recovery of the real estate sector in Dubai which should continue all throughout 2019 with the upcoming Dubai Expo 2020 acting as a major catalyst for infrastructural development. The realty sector in Dubai continues to be attractive for foreign investors and local buyers alike who are now profiting from smoother processes and incentives for investments along with improved and simpler legislation.

These recorded deals within only 10 days reflect considerable buyer confidence in the Dubai realty market as per DLD officials. These deals were recorded between the 17th of December and 30th of December, 2018. The deals were noted on a daily basis and this was in excess of Dh1 billion. The peak was hit on the 24th of December, 2018, with almost Dh3.6 billion worth of property being sold. 25 land transactions equalling roughly Dh69 million were seen in Al Hebiah Third which is the first mover in this category. Wadi Al Safa 5 was the first in terms of sales volumes for residential buildings. There were 43 transactions here which were worth approximately Dh65 million. Wadi Al Safa 7 also came in at second place with Dh34 million spent across 20 realty transactions. The third spot was taken by Al Yelayiss 2 with 13 transactions worth around Dh19 million.

In case of building mortgages, Al Thanayah Fourth took the first position with 15 transactions being concluded for Dh23 million. Al Yelayiss 2 followed with 12 transactions worth around Dh11 million. With regard to unit sales figures, Al Warsan First took the first position with 196 transactions that were worth Dh86 million. Business Bay took the second position with 115 transactions that were worth Dh149 million. Business Bay was first with regard to unit mortgages with 44 transactions taking place in this category here for a record Dh326 million. Al Barsha South Fourth took the second spot in this segment with 34 transactions taking place for Dh17 million.

Resident Editor