Dh19 billion Dubai property deals in last 10 days of 2018

By Rajive Singh

Business Bay

DUBAI 2 January 2019: Dubai’s real estate market recorded a high-transaction volume during the last ten days of 2018 with a value of over Dh19 billion through 2,081 transactions.

The 2,081 sales, mortgage, and other transactions worth more than Dh19 billion were concluded from 17th to 30th December, 2018. These transactions were being recorded daily and were more than Dh1 billion, peaking on 24th December with transactions worth nearly Dh3.6 billion.

Sultan Butti bin Mejren, Director-General of the Dubai Land Department, DLD, said: ” These recorded transactions within a short time reflect the renewed confidence in our real estate market, especially in light of Expo 2020 preparations. The investors’ decisions stem from their monitoring of successive developments regarding government legislation that guarantees their rights, in addition to the incentive environment established by the government to invest in this sector and ensure long-term rewarding returns on investment.

“This motivates us to achieve superior institutional performance by adopting the latest modern technologies. After launching a comprehensive package of smart applications, the level of interest of foreign investors has increased, allowing them to recognise the features of Dubai’s unique real estate sector, and the variety of products offered in the market that suit different buyers whether seeking a second home outside their homeland, or top investors who are roaming the world for the best investment options,” he said in conclusion.

Dubai Gazette