Complex Made Simple

Dubai’s real estate deals hit AED186 billion in nine months

Sales deals amounted to AED78bn, mortgage deals touched AED94bn, while other deals reached AED14bn

The total value of real estate deals recorded in the emirate of Dubai during the first nine months of this year reached AED186.343 billion, which resulted from 33,907 deals, shows a recent report.

According to Dubai Land Department ‘s (DLD) report issued by the Real Estate Research and Studies Department, sales deals amounted to AED78bn, mortgage deals hit the barrier of AED94bn, while other deals reached AED14bn.

HE Sultan Butti Bin Mejren, director-general of the Dubai Land Department, says: “This report shows once again sustainable growth enjoyed by the real estate sector in Dubai, especially since the increase in supply is in harmony with the increase in demand for various real estate categories, including residential units, office space allocated for industrial purposes and installations, as well as growth in the development of hotel projects of various degrees.”

Looking at the various items in detail, the report shows that Dubai witnessed 22,389 sales deals, accounting for 42 per cent of the total land deals, while mortgages accounted for 50 per cent, leaving eight per cent for other deals.