16.276 billion dirhams Dubai real estate behavior since the beginning of Ramadan

Real estate actions in Dubai recorded about 16.276 billion dirhams, during the first week of March, which coincides with the first week of Ramadan. The total real estate sales in Dubai witnessed new, striking record indicators, as it amounted to 11.51 billion dirhams, through transactions for sale, whose total number was 3573.

A monitoring conducted by «Emirates Today» based on the data of the Land and Property Department in Dubai, revealed that the first week of March, corresponding to the first week of Ramadan, witnessed the total transactions of selling 2884 housing units, while the total number of buildings that was sold 391 buildings, in addition to registering the sale of 298 lands during the same period.

The data indicated that the total value of the mortgage during the week amounted to 4.30 billion dirhams, while the total mortgage transactions amounted to 760 transactions, including 582 housing units, 103 buildings, and 216 lands.

The registered data indicated that the total value of real estate gifts during the week amounted to 466.42 million dirhams, which included 117 housing units, 43 buildings, and 16 lands.

The department’s data monitored the registration of real estate actions, which amounted to the total, yesterday, 2.58 billion dirhams, sales transactions were acquired on the largest shares, with a contribution of 1.48 billion dirhams.

The data showed that a number of different real estate regions and complexes in Dubai have witnessed a demand in the real estate sales sector during the past week, the most prominent of which is the Emaar Complex for the south, and the areas of Jumeirah Lakes, and Arjan, and the Emaar Complex for the south, in terms of the number of transactions selling apartments and the total mortgage transactions, was issued, while the Jumeirah Lakes Towers topped the lanes in the offices and apartments Residential.

It is noteworthy that many of the recent international reports issued, stated that the sales of the Dubai Real Estate Market will continue to rise at significant rates, and will achieve strong performance in its indicators with the flow of more foreign investors, and the growing rates of confidence in the Dubai Real Estate Market.

The general manager of “Awad Gargash Real Estate Company”, Raad Ramadan, said that “real estate sales have recorded a remarkable activity in the Dubai markets from the beginning of the month of Ramadan until the current period, which indicates the continued strength of demand that the sector records in attracting more investors, whether from the region or from different countries of the world”, expecting that “sales continue during the month of Ramadan to record new record rates that express the high attractiveness of the real estate investment sector in Dubai.”