Dubai records $44bn real es­tate deals in 9 months

Dossier - - LOCAL NEWS -

Dubai’s real es­tate mar­ket recorded 39,802 trans­ac­tions worth Dh162 bil­lion ($44 bil­lion) from the start of the year till the end of Septem­ber re­flect­ing growth driven by op­ti­mism among in­vestors and de­vel­op­ers, a me­dia re­port said.

The first nine months of 2018 recorded 25,473 sales trans­ac­tions worth more than Dh56.6 bil­lion, about 11,000 mort­gage trans­ac­tions worth over Dh86 bil­lion, and 3,486 other trans­ac­tions val­ued at Dh 19.3 bil­lion, re­ported Emi­rates news agency Wam, cit­ing a re­port is­sued by DLD’s De­part­ment of Real Es­tates Stud­ies & Re­search.

Sul­tan Butti bin Me­jren, di­rec­tor gen­eral of DLD, said: “The pos­i­tive re­sults of these de­ci­sions are ev­i­dent in the preva­lent con­fi­dence among the var­i­ous rel­e­vant par­ties in the mar­ket. These pos­i­tive reper­cus­sions will con­tinue to res­onate in the short and long terms by in­tro­duc­ing new sales cat­e­gories for ei­ther per­sonal use or for in­vest­ing.”

Dur­ing the first nine months of the year, Dubai re­ceived 27,174 in­vest­ments through 21,605 in­vestors, to­talling nearly Dh50 bil­lion, re­flect­ing the Emi­rate’s sus­tained growth for years, con­sol­i­dated by the huge di­ver­sity of in­vestors from the UAE, the GCC, the Arab World, and the world at large.

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