35.8 billion dirhams Dubai real estate sales since the beginning of Ramadan

Real estate sales in Dubai recorded an amount of 35.8 billion dirhams from the beginning of Ramadan until last Friday, achieving remarkable activity indicators, through transactions for sale, a total number of 11180 transactions.

Two experts in the real estate sector told «Emirates Today» that real estate sales in Dubai record new standard rates in demand, recording growth indicators that exceed expectations during the month of Ramadan.

A monitoring conducted by «Emirates Today» based on the indicators of the Data Department data in Dubai, revealed that from the beginning of the month of Ramadan until the day before yesterday, which is the period of time accompanying the beginning of the month of March until the 21st of the same month, transactions have been recorded for the sale of housing units, the total of the sale of 8810 units, while the total number of buildings that was sold 1042 buildings, in addition to registering the sale of 1328 lands during the same period.

The data showed that the total value of the mortgage reached 10.97 billion dirhams, while the total number of mortgage transactions amounted to 2331 transactions, which included 1493 housing units, 330 buildings, and 668 lands.

Dubai’s land and property department data indicated that the total value of real estate gift transactions during the same time period amounted to 1.67 billion dirhams, recording the number of transactions amounting to 450 transactions, including 312 housing units, 63 buildings, and 75 lands.

The data revealed that a number of different real estate regions and complexes in Dubai witnessed a turnout in the real estate sales sector during the 21 days, since the beginning of March (Ramadan), most notably the Emaar Complex for the south, and the areas of Jumeirah Lakes Towers. The Emaar Complex for the south in terms of the number of transactions selling apartments and total mortgage transactions, while the Jumeirah Lakes Towers topped the plants in offices and residential apartments, followed by the areas of Arjan and “Al -Barsha Heights”.

Several international reports recently issued, indicated indicators that support the continued high sales of the Dubai Real Estate Market at large rates, and that it will achieve strong performance in its indicators with the flow of more foreign investors, and the growing rates of confidence in the Dubai market.

For his part, Raad Ramadan, the general manager of Awad Gargash Real Estate Company, said that “real estate sales in Dubai recorded record growth since the beginning of Ramadan, exceeding expectations for sales indicators during the holy month, which was usually witnessing calm rates in demand compared to normal days.”

He explained that «the registration of these rates for real estate sales since the beginning of Ramadan until now, indicates expectations to record huge rise in demand for real estate by the end of the month, especially in light of the continued attractiveness of the real estate sector for more investors from different nationalities of the world.

For his part, the real estate mediator, Hussein Al -Sheikh, said that “the registration of real estate sales in Dubai is record rates since the beginning of Ramadan until now, indicates the great growth in the demand for investment in the real estate sector, with the support of the continuity of offering more various real estate projects that meet the different needs of investors of different nationalities.”

He added that «the month of Ramadan was witnessing usual during the previous years as calm aspects of demand, but the attractiveness of the real estate sector in Dubai for investors contributed to the registration of remarkable record indicators since the beginning of the Holy Month.

. Registration of selling transactions for housing units, totaling 8810 units, while the total number of buildings sold 1042 buildings.