Dubai records Dh162bn transactions in Jan-Sept
DUBAI 14 October 2018: Dubai’s real estate market recorded 39,802 real estate transactions worth Dh162 billion from the beginning of the year till the end of September, according to the latest report issued by Dubai Land Department (DLD).
DLD’s Department of Real Estates Studies & Research, said the first 9 months of 2018 recorded 25,473 sales transactions worth more than Dh56.6 billion, about 11,000 mortgage transactions worth over Dh86 billion, and 3,486 other transactions valued at Dh19.3 billion.
Emiratis, Indians Top Investors
During the first nine months of the year, Dubai received 27,174 investments through 21,605 investors, totalling nearly Dh50 billion. Investments came from 163 nationalities, of which 16 were Arab, 5 from the GCC, and 142 were foreign.
When looking at the list of top 10 investors by nationality, the Emiratis and Indians competed head to head to top the list, with the former recording 4,112 investments worth Dh9.4 billion, while the latter recorded 4,676 investments worth Dh8.6 billion.
The Saudis came third with 1,882 investments worth around Dh3 billion, followed by Pakistanis who recorded 1,851 investments worth Dh2.3 billion, and UK Nationals ranked fifth with 1,761 investments worth over Dh3.4 billion. The list of top 10 investors by nationality also included Dubai residents from China, Egypt, Jordan, Canada, and Russia respectively.
GCC nationals transactions exceeded Dh13.7 billion through 6,681 transactions made by 4,904 investors. Emiratis topped the list of the highest GCC investors, followed by citizens of Saudi Arabia, Kuwait, Oman and Bahrain.
Indians Biggest By Far
Dubai’s real estate market welcomed investors from 16 Arab nationalities, where a total of 2,894 investors recorded 3,607 investments worth around Dh6 billion. Jordanians topped the list of highest Arab investors with 644 investments by 548 investors, worth over Dh1.2 billion, followed by Egyptians who recorded 719 transactions made by 623 investors, worth over Dh1 billion. Iraqis and Lebanese investors came third and fourth respectively.
Some 142 foreign nationalities chose Dubai as a destination for their investments. 13,821 investors concluded 16,900 investments worth over Dh30.2 billion.
The top four foreign nationalities who invested in Dubai are Indians, Britons, Pakistanis, and Chinese . Indian investments were worth over Dh8.6 billion, significantly exceeding British investments who came second with investments worth over Dh3.4 billion. Pakistanis recorded Dh2.3 billion in investments, while the Chinese pumped Dh1.7 billion into Dubai’s real estate market.
Out of the total investments, women recorded 7,758 investments totalling Dh13 billion.
Top 10 Areas
In the list of top 10 areas in terms of the numbers and values of real estate transactions in the Dubai market during the first nine months of 2018:
- Business Bay topped the list with 2,644 transactions worth Dh5.312 billion
- Dubai Marina came in second place with the value of transactions at over Dh4 billion from 1,972 transactions
- Al Barsha South Fourth
- Al Merkadh
- Al Warsan 1
- Jebel Ali First
- Burj Khalifa
- Al Thanyah Fifth
- Al Hebiah Fourth
- Al Yelayis 2
In terms of mortgages,
- Dubai Marina listed 736 transactions worth Dh2.238 billion
- Al Thanyah Fifth came in second with 640 transactions totalling Dh1.356 billion
- Business Bay recorded 590 transactions exceeding Dh3.7 billion
- Jebel Ali First
- Al Barsha South Fourth
- Burj Khalifa
- Al Hebiah Third
- Palm Jumeirah
- Al Thanyah Fourth, and
- Al Thanyah Third
Sultan Butti bin Mejren, DLD Director General of DLD, said: “As we approach the end of 2018, we expect the market to reveal additional investment advantages, especially in the presence of competition among investors, and the incentives announced by the Dubai Government to attract capital. This, along with the completion of some infrastructure projects that were announced in the past few years in support Dubai’s preparations for Expo 2020, helps Dubai’s real estate horizon to broaden, increasing demand for residential units, commercial spaces, and lands.”
