Dubai records $44bn real estate deals in 9 months

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.