Transactions worth AED 77 billion made in Dubai’s real estate sector

Real estate transactions in Dubai have seen an upsurge as people from all over the globe are investing here. Making this announcement, Sultan Butti bin Mejren, Director General of  Dubai Land Department said, “The value of 20,000 real estate transactions reached AED 77 billion during the first quarter of 2017.”

Transactions worth AED 77 billion was  made in Dubai’s real estate sector in the first quarter of 2017.
Transactions worth AED 77 billion was made in Dubai’s real estate sector in the first quarter of 2017. Photo courtesy: 3villaz

Dubai Land Department (DLD) hosted a media gathering as part of the ‘Ask the Leader’ initiative organised by the Dubai International Government Achievements Exhibition 2017.

Bin Mejren told reporters, “According to the Land Department's data analysis there is an increase in the value of transactions by 45 per cent compared to the first quarter of last year 2016. This indicates that the real estate market in Dubai is preparing for a new phase of momentum and the rise and strong results achieved during the first quarter of this year was not surprising but expected, especially with the sustainable growth that the real estate market is currently witnessing. The total value of real estate investments reached more than AED 40 billion through 15,501 investment transactions.”

Bin Mejren also launched the ‘Know Your Rights as a Real Estate Investor in Dubai’ guide in cooperation with Al Tamimi & Company.
 

new guide 'Know Your Rights as a Real Estate Investor in Dubai'
A new guide 'Know Your Rights as a Real Estate Investor in Dubai' was launched. Photo courtesy: mediaoffice.ae

Speaking about the new guide, Bin Mejren, said, “Through its various departments, DLD is keen to cooperate with all concerned parties in the public and private sectors to spread awareness and a safe real estate culture among citizens, residents and visitors by informing them of their rights and duties. This book will certainly help to inform investors about their rights, and is also a tool for promoting a safe and stable investment environment for investors seeking opportunities in Dubai – a haven for world-class investments.”

Husam Hourani, Managing Partner at Al Tamimi & Company, said, “We are delighted to be partnering with DLD in this exciting initiative. The guide provides those interested in investing in Dubai’s real estate sector with comprehensive information to ensure they have all of the information they need to make well-informed decisions and protect their investments.”

DLD is participating under the theme ‘Dubai Land…Innovative Achievements…Global Leadership’ and will be part of the following three events this year: Dubai International Government Achievements Exhibition (DIGAE), International Property Show (IPS), and Future Cities Show.

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

Comments