Dubai Records 106bn in Real Estate Transactions

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Dubai recorded Dh106 billion worth of real estate transactions in the first five months of 2019, up 12 per cent compared to the same period last year, Dubai Land Department (DLD) said in a report on Tuesday. The first five months also saw the launch of 48 new real estate projects, which are expected to add 8,000 new residential units with a total area exceeding 730,000 square metres. For 2018, Dubai witnessed around 53,000 transactions worth Dh223bn, Dubai Land Department said in its newly-published annual report. In 2017, the transaction value was Dh284bn and number of transactions were 69,044. The report also said more than 31,000 investors from around the world invested in Dubai’s property sector in 2018. The percentage of individual investors decreased to 59.8 per cent in 2018, from 62.8 per cent in 2017, while the percentage of corporate investors increased to 40.2 per cent in 2018, from from 37.2 per cent a year earlier. “This increase reflects the ability of the real estate sector to provide investment options that attract corporate investors and effectively contribute in providing huge real estate investments in the sector,” DLD said.

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