DLD: Real estate transactions hit AED204bn in 9M 2017

Dubai Land Department (DLD) has announced that the total value of real estate transactions for the first nine months of 2017 reached AED204bn, achieved through 52,170 transactions.

According to the report, there were a total of 37,633 transactions for land, residential units and buildings, generating a value of over AED88bn. There were also 11,699 mortgage transactions worth AED102bn and 2,838 other transactions worth AED14bn.

HE Sultan Butti bin Mejren, director general of DLD, commented: “We are delighted to share our new report, which contains many encouraging and promising signs for those interested in Dubai’s real estate sector. The data clearly shows an increasing demand across all property categories, including land plots for various forms of real estate
development, as well as buildings and residential units, which means that we are attracting a wide variety of investors.

“We expect the market to remain on this upward trajectory of sustained growth, and to see demand continuing to diversify across various real estate categories. The momentum of the market is being driven and sustained by several factors but particularly the upcoming launch of Expo 2020 Dubai.”

The latest DLD report shows that the land category attracted AED143.4bn worth of investment, achieved from 11,169 transactions across sales, mortgages, and other transaction categories. Building sales generated 5,014 transactions with a total value of AED12.72bn, while 36,000 transactions for residential units of all types crossed the AED48.77bn mark.

The report also reveals the top ten real estate sales areas in Dubai, with ‘Burj Khalifa’ taking first place in terms of value with 1,650 transactions worth AED6.2bn. ‘Business Bay’ followed in second place with 2,754 transactions worth AED5,570bn, while ‘Dubai Marina’ took third place with 2,596 transactions totalling AED5.3bn in value.

In terms of mortgages, ‘Palm Jumeirah’ topped the list with 578 transactions exceeding AED11.38bn in value, followed by ‘Business Bay’ with 596 transactions worth AED4.63bn. ‘Dubai Marina’ ranked in third place with 777 transactions worth over AED3bn, ‘Burj Khalifa’ came in fourth place with 434 transactions worth nearly AED2bn, and ‘Al Thanyah 5’ placed fifth with 796 transactions worth AED1.77bn. The other five places went to ‘Al
Thanyah 4’, ‘Al Barsha South Fourth’, ‘Jebel Ali First’, ‘Al Yelayiss 1’, and ‘Al Thanyah 3’ respectively.