GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share
  • Bin Mejren: The current results show strong momentum in the real estate sector, which is expected to continue throughout the remainder of 2018 and into 2019
  • The real estate sector is preparing for an upsurge as infrastructure projects are set to be completed in line with Expo 2020 preparations
Dubai, United Arab Emirates, 15th April 2018:   Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 (Q1 2018) totalled AED 58 billion through 13,759 transactions. 
 
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate sector.”
 
Bin Mejren added: “Achieving almost AED 58 billion of transactions shows strong momentum in the real estate sector for Q1, and we expect this to raise the Q2 transaction index and continue to rally before the end of the year. Analysts and experts predict an upsurge as we enter 2019 with unprecedented strength, as many strategic infrastructure projects are due to be completed in Dubai in preparation for Expo 2020.”
 
Bin Mejren added: “These results have been achieved thanks to our commitment to our leadership's vision of achieving the highest levels of excellence and developing innovative services that enhance cooperation among investors. Dubai remains an attractive destination for investors seeking 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.” 
 
According to the report issued by DLD's Department of Real Estates Studies & Research, Q1 2018 saw a total of 9,092 sales transaction worth about AED 19 billion, 3,717 mortgage transactions worth over AED 30.6 billion, and 950 other transactions valued at AED 8,408 billion.
 
Top Players
 
Assessing the top players in Dubai's real estate market, DLD has confirmed that GCC investors led the way, making nearly 2,500 transactions worth around AED 6 billion, while 1,067 investors from other Arab countries concluded 1,250 transactions worth more than AED 2 billion. Q1 also saw 5,041 investors foreign making more than 5,000 transactions with a total value exceeding AED 10 billion. 
 
List of Top 10 Nationalities Investing 
 
UAE nationals outnumbered all other nationalities including Gulf, Arab and foreign countries, totalling AED 4 billion through 1,587 transactions made by 1,264 investors. They were followed directly by the 1,387 Indian nationals who invested AED 3 billion through 1,550 transactions.  Saudis came in third place with investments of nearly AED 1.3 billion, Pakistan and the UK followed on fourth in fifth place, and Chinese, Egyptian, Russian, Jordanian and Canadian nationalities ranked from the 6th to 10th respectively.
 
Areas in High Demand
 
In terms of sales, Business Bay topped the list with 973 transactions worth almost AED 2 billion, followed by Dubai Marina with 720 transactions worth AED 1.371 billion. Al Barsha South Fourth came in third place with 681 transactions worth AED 1.140 billion.
 
The other seven places went to Al Merkadh, Jebel Ali First, Al Hebiah Fourth, Al Warsan 1, Al Thunaya 5, Al Yelayiss 2, and the Palm Jumeirah. 
In terms of mortgages, Business Bay listed 249 transactions worth more than AED 1.8 billion, followed by Al Thunaya 5 with 195 transactions worth AED 613 million, and Dubai Marina with 192 transactions worth AED 289 million. The following seven places went to Jebel Ali Al First, Nad Al Sheba 1, Al Barsha South Fourth, Al Thunaya 3, Burj Khalifa, Palm Jumeirah, Al Thunaya 4 respectively. 
 
Real Estate Brokers and Permits
 
Brokers benefited from an increase in demand for Dubai properties and made up to AED 240 million in land, building and residential unit sales. The number of real estate permits issued reached 1,773 during the same period, while the number of real estate offices reached 2,165. According to DLD's statistics, Dubai is now home to a total of 6,177 real estate brokers.
 
Female investors 
 
During Q1, the level of investment from women was also exceptionally high, with 2,431 women making 2,780 investments exceeding AED 4.4 billion in value. 



Posted by : GoDubai Editorial Team
Viewed 7503 times
Posted on : Sunday, April 15, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Dragon Mart appoints Ines Akari as its official Toy Detective
Next Story : Get the best bargains at Dragon Mart's End of Season Clearance Market
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Let It Glow
Filorga Launches FLASH-NUDE Collection
Let All Your Photos Be Merry & Bright
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
HP ProBook x360 11 G3 and G4 Education Edition
Chrono 4 Grande Taille - an extra-special timepiece
30 Years of Ryder Cup Heroes Confirmed for the 30th Edition of the Omega Dubai ...
Maintain Healthy Skin Year Round
PopSockets launches a new collection with crystals from Swarovski, the must-have...
Free gold coins at Malabar Gold & Diamonds Festival
MIDO Baroncelli Lady Day & Night collection
American Eagle Is the Go-to Destination for Gifting This Holiday Season'
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
The Interiors Gift Guide with Home and Soul
Newby Teas Launches Advent Calendar For Christmas 2018
GAZOO Racing Wins Australia Rally at FIA World Rally Championship
Tissot Chemin des Tourelles
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Growth and inclusivity drive Avaya's channel strategy for 2019
Get Ready for Party Season with Lottie's new make-up hits
Time For Enchanting Moments
Interview with Asil Attar, CEO of Al Yasra Fashion
Festive Gift Sets from Bubble T
Holiday Handbags | GUESS
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
BharatMatrimony launches office in Dubai targeting 2 Million Indians
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Winter wool Christmas must- haves
Michael Kors Collection Transeason 2019 Press Presentation
New 1948 Seamaster Watches Join the Ranks'
Samsung Galaxy A9 – Designed to capture the world in its fullest
Five-Star Euro NCAP for Jaguar's Electric I-PACE
France Attractiveness Scoreboard 2018 Released
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
UOWD's quality management expert wins ASQ-UAE Quality Professionals Award
Dubai's Most Magical Festive Market Opens at Dubai Festival City Mall
Ring in a dazzling festive season at Ibn Battuta Mall
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
Chinese Manufacturing Companies to Highlight Trade Opportunities in Middle East
Dubai Customs wins 3 awards from Ideas UK 2018
FBMA and 47 Emirati women celebrate UAE National Day
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Al Hosn Now Open to the Public
Chic and Stylish Wraps with a 3 in 1 effortless concept
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
ICAEW recognises Middle East's best finance professionals
Voting on UAE Superbrands 2019 Begins