Complex Made Simple

Dubai’s property deals hit AED210 billion since beginning of year

Sale of residential units and villas accounted for 42 per cent of total transactions

The value of real estate deals in Dubai amounted to AED210 billion during the period from January 1 until November 12. This includes AED90.1bn of sales, AED104bn of mortgages and AED15.9bn of other deals.

Dubai Land Department’s data shows that the real estate sector in the emirate has attracted more than 31,000 investors from 153 countries over this period, with investments of nearly AED92bn.

According to Emirates Today, DLD’s report also points out that mortgage deals accounted for 50 per cent of the department’s deals – sale deals, which included residential units and villas accounted for 42 per cent of the total deals, while other real estate deals accounted for eight per cent.

The report says that the monthly averages of real estate deals in Dubai ranged in the past months between AED10bn and AED12bn and that there is a convergence between the expected numbers by the end of this year and those that have been achieved in 2014, which amounted to AED218bn.