Dubai’s real estate market recorded sales worth AED 10.01 billion last week, after 4,240 transactions were executed, with significant growth in demand.
A monitoring by “Emirates Today” based on data indicators from the Dubai Land and Property Department showed that last week witnessed real estate transactions with a total value of 13.36 billion dirhams, through transactions that reached 5,228 transactions.
The data indicated that the total value of real estate mortgages amounted to 2.68 billion dirhams, with 867 transactions recorded, while the value of real estate grants reached 670 million dirhams through the implementation of 121 transactions.
Commenting on the performance of the real estate market in Dubai, Walid Al Zarouni, Chairman of W Capital Real Estate Brokerage, said that the market ended a strong summer season in terms of sales, amidst the continued unprecedented demand for investment in Dubai and taking advantage of opportunities in an emerging market.
He added that real estate sales in Dubai maintain high levels, supported by several factors, including the facilities granted for residency, in addition to the advanced infrastructure in the emirate, as well as the high return, compared to a number of global cities, and the appropriate prices.
Al Zarouni stated that there is a great demand for all real estate categories, especially luxury ones, whether for ownership or rent, which encourages developers to launch more projects, noting that sales have focused since the beginning of this year by 60% on residential units with one and two bedrooms.
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