Busi­ness Bay and Dubai Ma­rina first and sec­ond for unit sales this year

7 Days in Dubai - - BUSINESS -

Busi­ness Bay was the most pop­u­lar area of Dubai for real es­tate unit sales ac­cord­ing to a new re­port by Dubai Land De­part­ment (DLD).

DLD’s Transactions Re­port, is­sued by the Real Es­tate Re­search and Stud­ies De­part­ment, re­vealed that real es­tate transactions recorded in Dubai in the first six months of 2016 reached a to­tal of Dhs113 bil­lion. This was achieved through 28,251 sales, mort­gages and other transactions.

Sul­tan Butti bin Mer­jen, Di­rec­tor Gen­eral of DLD, said: “Dubai has achieved a high per­cent­age of growth, with the value and the num­ber of real es­tate transactions, which pro­vides re­as­sur­ance about the pos­i­tive de­vel­op­ment that the Dubai prop­erty mar­ket is wit­ness­ing, and proves the at­trac­tive­ness of the emi­rate’s real es­tate.”

Prop­erty sales con­trib­uted to­wards 43 per cent of the to­tal, with more than 20,000 transactions com­pris­ing a to­tal com­bined value of Dhs48.715 bil­lion, while mort­gages came in sec­ond with 6,391 transactions, which formed a to­tal col­lec­tive value of Dhs48.366 bil­lion, also al­most 43 per cent.

Other transactions reached Dhs16 bil­lion in the form of 1,844 transactions.

Busi­ness Bay took first place for to­tal unit sales, with 1,643 transactions with a com­bined value of Dhs2.349 bil­lion, fol­lowed by Dubai Ma­rina with 1,392 transactions with a col­lec­tive worth of Dhs2.893 bil­lion, whilst Warsan 1 came in at third with 999 transactions with a value of Dhs454 mil­lion.

Sales re­lat­ing to land transactions at­tained over Dhs27 bil­lion for the cur­rent pe­riod, from a to­tal of 4,753 transactions. Mort­gages re­lat­ing to land transactions recorded Dhs42.751 bil­lion, from a to­tal of 2,377 transactions.

The Seih Shuaib 1 area of Dubai was re­vealed to be the most at­trac­tive for in­vestors, with the value of its transactions from sales of lands reach­ing Dhs2.364 bil­lion through 1,227 deals. This was fol­lowed by Sheikh Mo­hammed bin Rashed Gar­dens with a to­tal of 406 transactions worth Dhs1.971 bil­lion, fol­lowed by Al Yafra 3 with 387 transactions worth Dhs622 mil­lion. With re­gards to build­ings, Mo­hammed bin Rashid Gar­dens achieved the most prom­i­nent num­ber with a to­tal of 463 sales transactions with a value of Dhs1.173 mil­lion, fol­lowed by Al Thu­naya 4 with to­tal of 141 sales re­al­is­ing a com­bined worth of Dhs315 mil­lion. Al Yalayis 1 came in third with to­tal of 132 transactions val­ued at Dhs219 mil­lion.

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