Dubai’s realty transactions top $9.25bn
01 July 2019
The value of the total real estate transactions in Dubai surged to more than Dh34 billion ($9.25 billion) during the first five months of 2019 from Dh24 billion last year, according to Dubai Land Department (DLD).
The value of residential and commercial apartments’ deals topped Dh17 billion, while land purchasing transactions amounted to Dh14 billion and villas deals stood at Dh3 billion, according to data released by DLD.
This growing number of real estate purchasers came as a result of the attractiveness of the real estate market in Dubai, thanks to a number of recently issued decisions by the UAE government, it states.
The real estate transactions over the past five-month period included completed and ongoing deals.
The apartments market came in the first spot in terms of transactions, beating the land plots market, while the villas market maintained its third-place position it adds.
These figures were mainly influenced by the permanent residency system for selected expats, offering residency to foreign pensioners, the 10-year residence visa for investors, and the 100 per cent foreign ownership of companies in the UAE.
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