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Dubai real estate sales hit AED225 billion in 2015

Transactions of January-June period nearly double that of latter half

The value of real estate deals and sales concluded in 2015 in the emirate of Dubai amounted to a total of AED225 billion, according to a survey by the Al Bayan newspaper.

The figure signals a growth rate of three per cent or AED7bn compared with the AED218bn recorded in 2014 in the emirate.

In December, property sales and deals totalled AED15bn, bringing the annual total to AED225bn, the data shows.

In the past month, Dubai’s Downtown saw the highest number and value of real estate deals in the emirate.

The last week of 2015 saw the value of property sales rising to AED3.6bn.

The figures reported in the first half of 2015 were well above the second half. In the January-June period, real estate sales reached AED152bn, but in the second half, they amounted to only AED83bn.

Land-related deals comprised 80 per cent of the total real estate activity while buildings and housing units accounted for only 18 per cent.