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 5283 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
NARS Erdem SS19 Beauty Report
Diana Arno Expands Online Shopping to Middle East
Introducing Home Fragrance at Robinsons, Dubai Festival City
Introducing VK Beauty Lounge & Bar
Defying Age With Skin Republic's Gold and Platinum Face Masks
The Future Is Here
Roberto Cavalli's Exclusive Duo of Fragrances
Lacoste.12.12 Collection
Bring a Touch of Sophistication to Your Home with The Exclusive SmegXDolce&Gabba...
FOREO To Attend TFWA: the World's Largest Travel Retail Show
Trevor Sorbie Range Relaunches in the UAE
Dubai Parks and Resorts Celebrates Saudi National Day
Honor Set to Go Beyond Limits With the Launch of Honor 8x
Carl F. Bucherer Celebrates Debut of Its Online Boutique on Jd.Com Launch of Lim...
O Boticário Opens in Dubai its First Amphora Store outside Brazil Come Join...
Pamper yourself at Perfumery & Co this month, at The Dubai Mall
The Mummies of Dubai Give Their Kids a Preppy Style Makeover
GROHE Smart Home: The App-Controlled Water Security System
Huawei Deepens Cooperation with Duisburg to Transform Germany's Industrial Hear...
Ministry of Human Resources and Emiratisation, Huawei and Honor launch ICT Compe...
New GUESS Handbags for FW18
Le Meridien Dubai Hotel & Conference Centre's Restaurant Promotions- October
Hyperloop Transportation Technologies, Partners, and Government Stakeholders Mov...
William Collection by Hugo Boss
Al-Futtaim ACE launches its stylish new Outdoor collection
du Wins Smart Cities Award at the Telecoms World Middle East 2018
Tips & Toes Hits the Big 3-5!
Honda voted “Preferred Sedan Car Brand of the Year” for the fourth year in a row
Al-Futtaim Toyota swoops another win at the Filipino Times Awards
Dubai Design Week continues to grow, cementing Dubai as the design capital of t...
Eberhard & Co. Scafograf 100 For Elegant Lady
Mousses Etoiles to reveal the latest luxury designs of commercial-use outdoor fu...
Tata Communications launches a specialised cyber security lab at Shanmugha Arts,...
Consonni Wraps Up La Vuelta a Espana With a Seventh Place Finish for UAE Team Em...
Abu Dhabi wins bid to host 2022 ITU Grand Final in world first
Akamai Unveils Solutions at IBC 2018 Designed to Mitigate the Challenges and Cos...
Cadillac XT4 Delivers Dynamic Driving Experience
WWE® Crown Jewel Set for November 2 in Saudi Arabia
du Opens New Business Centre in DIFC for Enterprise Customers
New Homologations for Pirelli Tyres
The Ferrari Monza SP1 and SP2 unveiled – the first models in a new concept of li...
Volunteers from the UAE join hands with the community in Tasset Peulh village in...
Sharjah's Recognition as ‘Accessible City for Physically Disabled' Hailed as His...
Dubai Festival City Mall Celebrates KSA National Day with Special Imagine Show
2018 FW in style at Zippy
The Dubai Business Women Council meets with the UN Assistant Secretary-General t...
Fidu Properties unveils second office in Dubai; eyes expansion in UAE
Registration for the 5th edition of Camel Trek is now open
New Headmaster for Repton School, Abu Dhabi School's Rose Campus (FS1 to Year 1...
Huawei becomes one of the first multi-national technology companies to register ...