GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share
  • Bin Mejren: Government decisions boosted investor confidence and supported the attractiveness of the real estate sector
  • Expo 2020 is close at hand, and developers in the market are expressing interest in aligning with the directives of the wise leadership to attract more investments
Dubai, United Arab Emirates, 07th July 2018:   Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first half of 2018 (H1 2018) reached AED 111 billion, reaffirming Dubai market's attractiveness and ability to compete with global investment destinations. The strengths portrayed by Dubai's real estate investments underscore the leadership's mandate to ease business processes and procedures.
 
According to the report issued by DLD's Department of Real Estates Studies & Research, H1 2018 recorded a total of 27,642 transactions, 18,191 sales worth about AED 40 billion, 7,668 mortgage transactions worth over AED 57.6 billion, and 1,783 other transactions valued at AED 13.4 billion.
 
His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: “The strategic decisions launched by the Government are in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and have had a significant impact on sustainable growth and on strengthening the competitiveness of the national economy. Granting investors a UAE residency visa for up to 10 years and reducing government fees included in previous initiatives will be of the most important incentives for economic growth in the Emirate, as they will have a positive impact on reducing business costs and will support Dubai's position as one of the best investment destinations in the world. '
 
Bin Mejren added: “We were also quick to adapt and align ourselves with these decisions: The 4% penalty that property owners were incurred for failing to register their developments within 60 days has been waived. This underpins the Government's efforts to provide the best possible services to investors and developers alike.”
 
Global investments: 
 
Regarding the size of the investments, the report revealed that during H1 2018, the Dubai real estate market recorded 19,371 investments through 15,659 investors, totalling AED 37 billion. UAE nationals topped the list with 2,986 investments worth AED 6.8 billion, while Indian nationals ranked second — with investments that amounted to AED 5.9 billion through 3,218 investments — followed by Saudi Arabians whose investments were worth almost AED 3.7 billion through 1,415 investments. The list of top 10 investors by nationality also included Dubai residents from Britain, Pakistan, China, Egypt, Jordan and France, respectively.
 
The report revealed as well that the total volume of GCC nationals' investments in Dubai's real estate exceeded AED 11.6 billion through 4,919 transactions made by 3700 investors, while 2,094 investors from 16 Arab countries concluded 2,561 transactions worth more than AED 4.115 billion. H1 2018 also saw 9,935 foreign investments from 143 nationalities making more than 11,889 transactions with a total value exceeding AED 21 billion. 
 
Female investors 
The value of properties registered by female investors, as recorded by DLD, reached AED 9 billion through 5,526 transactions.
 
Bin Mejren concluded: “If we were to identify the reason behind the strengthening real estate market, it would be the level of maturity it has reached to maintain its sustainable growth. Expo 2020 is close at hand, and developers in the market are expressing interest in aligning with the directives of the wise leadership to turn Dubai into a global pioneer and an attractive investment hub in support of Dubai Strategic Plan 2021.
 
Top 10 attractive areas: 
 
In the list of top 10 areas in terms of the numbers and values of real estate transactions in the Dubai market during H1 2018, Business Bay topped the list with 1,934 transactions worth almost AED 4.2 billion, followed by Dubai Marina in second place with 1,445 transactions worth AED 2.9 billion, and Al Merkadh
 
The remaining seven areas went to Al Barsha South Fourth, Al Warsan 1, Jebel Ali First, Al Hebiah Fourth, Al Thanayah 5, Burj Khalifa and Al Yelayiss 2. 
 
In terms of mortgages, Dubai Marina listed 498 transactions worth more than AED 1.7 billion, Jebel Ali First came in second with 454 transactions totalling AED 769 million, and Business Bay recorded 453 transactions exceeding AED 3 billion. The list also included Al Thanyah Fifth, Al Barsha South Fourth, Nad Al Shiba First, Wadi Al Safa 5, Palm Jumeirah, Burj Khalifa and the Thanyah Fourth.



Posted by : GoDubai Editorial Team
Viewed 3422 times
Posted on : Saturday, July 7, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : ‘Green' retailers to continue to gain traction with consumers
Next Story : CCC identifies the digital tech megatrends to construct a future virtual world
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Cerruti 1881 Infinite Love
Oh, Sweetie Lipcolour!
Travel Light with Beauty Essentials from Glambeaute.com
Innovative Chronofighter Superlight Carbon is replete with Graham's formidable m...
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Bie...
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreemen...
Tissot T-Race Cycling An adrenaline-fuelled ride
DKNY Fall 2018
Tommy Hilfiger Dressed Up Collections
Etihad Airways Celebrates President Xi Jinping's Visit With a Series of Cultural...
Summer Love by Mouawad
Huawei's New Range of Artificial Intelligent Smartphones Set to Change Your Self...
An Insight Into Easyshopping.ae
Canvas on Wrist – Swatch Partners Up With Riksmuseum
A New Watchmaking Encounter in Pink Gold at the Venice International Film Festival
DS Podium Chronograph - Sporty as ever, now with PrecidriveTM
The Maison Chaumet opens an exclusive pop-up at The Dubai Mall
Introducing Salvatore Ferragamo's Men's Sun and Optical Capsule
From skin to comprehensive aesthetic care: a 15-year journey called Kaya Skin Clinic
Go Down Memory Lane with Fashion Trends from the '90s
Inspired by legends, worn by new heroes, PUMA FOOTBALL brings you the AC MILAN 2...
Before we say Goodbye to Flamingoes and Pineapples, Celebrate Summer 2018 with k...
Dubai Camel Racing Club Honours Al Tayer Motors
The wide-awake, doe-eyed look
GUESS Launches Fall 18 Handbags
Enjoy DSS 2018 Offers at Parah
Accessing The Internet In Dubai: All You Need To Know
Your Baby and Child Travel Essentials Covered with Five Little Ducks
Ferrari's turbo-charged V8 is voted the best engine of the last 20 years
Hyperloop Transportation Technologies to Build China's First Hyperloop System
Michelin introduces the new MICHELIN PRIMACY 4 in GCC region
Pottery Barn Kids launches new ‘Back-to-School' collection
UAE Team Emirates' Alexander Kristoff Narrowly Misses Out on a Stage Win in a Ti...
Beat the Heat with these Summer Essentials
6-Day SCTDA Tour Guide Training Program Conducted by SUC
Danfoss celebrates the young engineers who participated in the EmiratesSkills Na...
PCFC and GDRFA helped 511 employees tie the knot over last 7 years
One Day Course in Dealing with and Managing Difficult Stakeholders
Rashid Hospital doctors save sea captain's life using a highly sophisticated pro...
Dubai Health Authority discusses collaboration with British healthcare firms.
Brunch with the Girls this Summer
MG Motor introduces new MG GS 2019 to the Middle East
IKEA Announces Upcoming Global Collections and Collaborations for 2019
Ensure clean and pure air in your home this summer
Roger Dubuis and Lamborghini Squadra Corse thrill visitors with enthralling Harr...
Finnair recognized as the ‘Best Airline in Northern Europe' for the 9th year in ...
Dragon Mart celebrates UAE-China Week with exciting line-up of traditional Chine...
Shop & Win this Weekend with Unbeatable ‘Unbox the Amazing' Deals and Promotions...
The Dubai Business Women Council looks to enhance economic relations with Serbia
Sharjah continues to become more affordable, with rents and sales prices falling...