UAE - Mubasher: Dubai's real estate sector has witnessed 51,414 transactions valued at more than AED 175 billion in 2020, the Dubai media office reported.
Dubai's real estate sector recorded AED 72.5 billion sales with 35,423 transactions in 2020, according to a cited report by the Dubai Land Department (DLD).
Meanwhile, the total value of mortgages exceeded AED 87.7 billion through 12,958 transactions, while grants registered 3,033 transactions worth over AED 15 billion.
The report referred that the emirate attracted 31,648 new investors who concluded 41,571 investments worth more than AED 73.2 billion in the real estate sector.
A total of 6,704 GCC investors have entered into 8,659 investments valued at about AED 14.8 billion in the emirate's real estate sector last year.
Emiratis came on top of the GCC investors, followed by Saudis, Kuwaitis, Omanis, and Bahrainis.
At the same time, Indians ranked first in the list of 24,666 foreign investments worth AED 35.6 billion, followed by the Chinese, British, Pakistanis, and French.
The Director-General of DLD, Sultan Butti bin Mejren, said: "The 51,414 transactions recorded in 2020 validate the success of the government incentive packages that enhanced the market’s attractiveness and provided several opportunities for investors and developers who were keen to continue construction and deliver projects according."
