DUBAI - Dubai has registered 25,455 real estate transactions worth AED92 billion from January - April 2021, thus achieving an increase of 51 percent in terms of the number of transactions and 72 percent in terms of their value compared to the same period in 2020.
According to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates,’ the real estate sector showed robustness and an ability to adapt to various circumstances and developments.
The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities. 8,749 new investors entered the market from January - April 2021, representing 65 percent of the total number of real estate investors registered in that period, with a growth of 54 percent compared to the same period in 2020.
The bulletin also showed that the total value of real estate investments during the aforementioned period reached AED36 billion, an increase of 44 percent compared to the same period in 2020. This confirms the continued flow of real estate investments since the beginning of the year at a high rate, which also strengthens the trust of local and international investors alike.
187,949 Ejari contracts were recorded in January - April 2021, 58 percent of which were new contracts and 42 percent were renewed contracts.
The bulletin highlighted the top five areas for investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped the list in April 2021, followed by Palm Jumeirah, Wadi Al Safa 5, Wadi Al Safa 7, and Al Yelayiss 2. In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth topped the list in April 2021.
It is expected that the real estate sector will witness increased growth and a greater recovery in the coming period following the permission of Dubai's Supreme Committee of Crisis and Disaster Management to submit electronic permit applications for business activities of all kinds, in addition to the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the world and will constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.
WAM/ /MOHD AAMIR
© WAM (Emirates News Agency) 2021