His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department confirmed that the value of real estate transactions reached AED 77 billion from 20,000 real estate deals. Therefore, Dubai’s position as a safe heaven for investors is continuing to grow.
The increased number of transactions was followed by increased transactional value, which stood at AED12.28 billion for both ready and off-plan units, which is a 31% increase compared to the previous quarter and an indication that price points are now more in line with buyer expectation.
This indicates that the real estate market in Dubai is preparing for a new phase of momentum, saying that the rise and strong results achieved during the first quarter of 2017 was expected.
His Excellency also shared that the total value of real estate investments reached more than $10.89bn (AED40bn), through 15,501 investment transactions.