DUBAI 31 July 2017: Dubai Land Department (DLD) said total real estate transactions in first half of this year reached Dh132 billion, achieved through 35,571 sales, mortgages and other transactions.
The H1 2017 Transactions Report up until 30th June by the Real Estate Research and Studies Department, reveals total value increasing by 16.8% from 7,320 transactions – an increase of 25.91% compared to transactions for the first six months of 2016.
The report says Dubai real estate market generated 25,864 sales transactions worth over Dh63 billion and 7,893 mortgage transactions worth Dh60 billion, while 1,814 other types of transaction ere at Dh9 billion.
Providing an analysis of the value generated by different types of property, the report shows that the land category represented Dh91 billion from approximately 8,000 transactions, while building sales accomplished 3,887 transactions with a total value of Dh10 billion and unit sales crossed the Dh31 billion mark from 24 transactions.
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.
By Rajive Sngh