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Dubai property transactions reach $22.6bn in nine months
- United Arab Emirates: Monday, October 22 - 2012 at 04:21
The Dubai Land Department (DLD) has said the total value of property transactions in the emirate has reached over Dhs83bn ($22.6bn) in the first nine months of 2012, Gulf News has reported. The results showed 65% of transactions were on land sale and mortgage, while apartments' sale and mortgage exceeded the same transactions on buildings and villas by 86%. "The property transactions have become more mature and the investors are now much more aware," said Sultan Butti Bin Mejrin, director general of the DLD. "The market offers multiple-choices and Dubai property sector showed high flexibility in dealing with investors' requirements and trends during the first nine months, most notably first time investors who seek to benefit from investment opportunities that emerged due to price correction witnessed by the market over the past two years."
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