Dubai gets Dh21 billion new real estate projects in 6 months

first half saw completion of 24 projects

DUBAI 13 August 2017: A total of 68 real estate projects have been launched in the first half of 2017, according to Dubai Land Department (DLD).

They represent a value of Dh21 billion.

“Dubai is currently witnessing increasing interest from international investors, which has reinforced confidence in our real estate sector and its future prospects,” said Sultan Butti bin Mejren, Director-General of DLD.

Bin Mejren added that 713 developers are registered in DLD’s database, alongside a total of 483 projects.

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Emphasising the vitality of Dubai’s real estate market, bin Mejren explained that since the establishment of the Real Estate Regulatory Agency (Rera), ten years ago, 535 projects of various sizes have been completed, supporting a variety of economic activities in Dubai. The first half of this year also witnessed the completion of 24 projects that had been initiated in previous years.

The figures reaffirm the momentum and sustainability of Dubai’s real estate market, which is following an upward growth trajectory. Contributing local factors include the development of ambitious infrastructure projects, and the atmosphere of security and tranquility that continues to define Dubai and the wider United Arab Emirates.

By Sheena Amos

Dubai Gazette