Dubai – Mubshaer: Dubai Land Department (DLD) on Monday announced that the total value of real estate transactions for the first nine months of 2017 reached AED 204 billion, achieved through 52,170 transactions.
The total number of transactions for land, residential units and buildings reached 37,633 transactions, generating over AED 88 billion, according to a press release.
In addition, 11,699 mortgage transactions, worth AED 102 billion, and 2,838 other transactions, worth AED 14 billion, were made during the same period, DLD added.
DLD also announced that the land category attracted AED 143.40 billion worth of investment, achieved from 11,169 transactions, while building sales amounted to a total value of AED 12.72 billion, through 5,014 transactions.
On the other hand, residential units of all types crossed the AED 48.77 billion mark, with 36,000 transactions, DLD continued
As for the top real estate sales areas, “Burj Khalifa” came first in terms of value with 1,650 transactions worth AED 6.239 billion, followed by “Business Bay” with 2,754 transactions worth AED 5,570 billion, and “Dubai Marina” with 2,596 transactions, totalling AED 5.357 billion.
In terms of mortgages, “Palm Jumeirah” topped the list with 578 transactions exceeding AED 11.38 billion in value, followed by “Business Bay” with 596 transactions worth AED 4.63 billion, and “Dubai Marina” with 777 transactions worth over AED 3 billion, DLD added.
“We expect the market to remain on this upward trajectory of sustained growth, and to see demand continuing to diversify across various real estate categories. The momentum of the market is being driven and sustained by several factors but particularly the upcoming launch of Expo 2020 Dubai.” Sultan Butti bin Mejren, director general of DLD, commented.
