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 and Retail

 
  Share
  • Bin Mejren: Our strong real estate foundations has led to sustainable growth in the sector
  • DLD recorded approximately 36,000 transactions, representing a 26% increase over the same period last year
Dubai, UAE, July 30, 2017:  Dubai Land Department (DLD) has released its H1 2017 Transactions Report up until 30th June, through the Real Estate Research and Studies Department, announcing that total real estate transactions for this period reached a value of AED 132 billion, achieved through 35,571 sales, mortgages and other transactions.  
 
The report reveals that the market has achieved a high percentage of growth compared to the same period last year, with total value increasing by 16.8% from a total of 7,320 transactions – an increase of 25.91% compared to transactions for the first six months of 2016. 
 
The report also confirms that the Dubai real estate market generated a total of 25,864 sales transactions worth over AED 63 billion and 7,893 mortgage transactions worth AED 60 billion, while 1,814 other types of transaction brought in AED 9 billion.
 
Providing an analysis of the value generated by different types of property, the report shows that the land category represented AED 91 billion from approximately 8,000 transactions, while building sales accomplished 3,887 transactions with a total value of AED 10 billion and unit sales crossed the AED 31 billion mark from 24 transactions.
 
Bin Mejren: Good news for the real estate sector
Commenting on the results, His Excellency Sultan Butti bin Mejren – Director General of DLD – said: “Our report for the first half of this year bears promising results for professionals in the real estate sector, as despite global economic pressures, Dubai has once again reaffirmed its leadership of regional markets and driven renewed growth in the region.”
 
Bin Mejren confirmed that the 26% increase in transactions and the 17% increase in value is an unrivalled success for the sector. The success demonstrates the wisdom of the economic policies set by the government – particularly those that have contributed to the protection of all parties and the preservation of real estate rights, as these have encouraged real estate investment and safeguarded the growth of a transparent, sustainable and secure real estate sector.  
 
Bin Mejren added: “Establishing strong foundations for the sustainable growth of our real estate sector has been largely focused on preserving the rights of all investors and providing a secure environment where their transactions can take place in a transparent matter. This has allowed the sector to grow by increasing investor confidence and heightening the appeal of Dubai's property market.”
 
The report provides further details about the total number of investments made in Dubai's real estate market during the first half of 2017. 27,381 transactions were completed by 21,574 investors, generating a total investment value of AED 58 billion. The report also highlighted that 6,253 female investors completed 7,341 transactions worth AED 15 billion. 
 
Emirati investors take the lead
Emirati investors ranked first for both number and value of transactions, completing 4,510 transactions worth AED 15 billion, followed by Saudi nationals in second place with a total of 1,936 transactions worth AED 4 billion. The total value generated by GCC investors increased by 16% compared to the same period last year, with 7,665 transactions worth AED 21.7 billion.
 
Arab and foreign investors
When looking at the Arab investors, Egyptians and Jordanians took first and second places respectively. The total value of Arab investments reached AED 8 billion, representing a 25.5% increase compared to the same period last year, generated by 4,654 Arab investors, a 40% increase compared to the same period. 
 
Among foreign investors, Indian, Pakistani, British, Chinese and Canadian nationals took the first five places, with 15,062 investors generating a total value of AED 28.6 billion. These figures represent a 35% increase in investor numbers and a 34% increase in value compared to the first six months of 2016. 
 
Areas in High Demand:
The report also sheds light on the top ten areas in Dubai for both number and value of transactions. Dubai Marina took first place with 2,529 transactions, followed by Business Bay with 2,146 transactions, Al Barsha South 4 with 2,001 transactions, Jebel Ali 1 with 1,931 transactions, and in fifth place Al Thaniya 5 with 1,501 transactions. 
 
In terms of value, Palm Jumeirah topped the chart with transactions worth AED 9.5 billion, followed by AED 6.5 billion for Business Bay, AED 5.8 billion for both the Burj Khalifa and Dubai Marina areas, and AED 5.6 billion for Al Wasl area.

Posted by : GoDubai Editorial Team
Viewed 11157 times
Posted on : Sunday, July 30, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : The Trump Estates Park Residences at DAMAC Hills boasts park views and promises the finest in luxury...
Next Story : Already the Greatest of the Greatest Construction Endeavors in the UAE Continues to Break Records
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
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
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
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market
Interview with Asil Attar, CEO of Al Yasra Fashion
Holiday Gifting Made Easy with Wet n Wild Beauty Specials
Get Ready for Party Season with Lottie's new make-up hits
Tissot PR100 Lady Sport – Chic Glamourous Festive Season
Festive Gift Sets from Bubble T
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
Winter wool Christmas must- haves
Samsung Galaxy A9 – Designed to capture the world in its fullest
New 1948 Seamaster Watches Join the Ranks'
Chic and Stylish Wraps with a 3 in 1 effortless concept
Michael Kors Collection Transeason 2019 Press Presentation
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus...
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu
Tissot PR100 Lady Sport – Chic Sporty yet Feminine
DKNY Launches (Limited Edition) Holiday 2018 Collection
Dubai Shopping Festival Wednesday Specials at The Smile Bar
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
Get Party Ready with Champion Cleaners
Raja Al Gurg is one of Forbes Magazine's 100 most powerful women in the world
Nine winners honored by DQG for their innovative ideas at the 10th Global Contin...
Jury Announced for Epson's First Ever Win-A-Robot Competition in Europe, The Mid...
Spinneys Dubai 92 Cycle Challenge | Road Closure Timings
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...
No P-ain, No G-ain! Mega Musclemen Return to Dubai
Al Hosn Now Open to the Public
ICAEW recognises Middle East's best finance professionals
Santa is Coming to Town!
It's a Wrap! The Second JLT Restaurant Awards Conclude with a Glitzy Ceremony At...
'Introducing the GUESS Jeans Fall 2018 Collection'
UAE students win top awards at international math competition in Malaysia
His Highness Sheikh Saud discusses collaboration with British Consul-General And...
CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE
Arla Foods launches initiative with UAE Ministry of Education to promote healthi...
Young Emirati Champion Rashid Al Dhaheri Powers Ahead to Stunning Victory at the...
Enjoy 11 exciting new street entertainment shows at BOLLYWOOD PARKS™ Dubai
Listen to the Autism Beat Gala Dinner at Atlantis - The Palm
Zayed Book Award Longlist Announced for ‘Young Author' Category (2018 - 2019)
Joe's Backyard Opens at the Holiday Inn, Dubai Festival City
Julphar to Launch Wearable Insulin Delivery Device in GCC
Dubai Islamic Bank triumphs at Islamic Business and Finance Awards 2018
University of Balamand Dubai and Emicool agree MoU for student scholarships
CITIZEN's “#MyBetterStartsNow” campaign seeks out UAE's inspired and driven indi...
Al Ghurair Centre Teams Up With Nike to Support Its ‘We Play DXB' Campaign