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| 13 August, 2017

Dubai registers 68 projects worth $5.72bln in H1 2017

A property model on display featuring new real estate projects is seen during the Cityscape Global property exhibition in Dubai, September 27, 2011.REUTERS/Jumana El Heloueh

A property model on display featuring new real estate projects is seen during the Cityscape Global property exhibition in Dubai, September 27, 2011.REUTERS/Jumana El Heloueh

13 August 2017

Sixty-eight real estate projects, valued at 21 billion UAE dirhams ($5.72 billion), were registered in Dubai in the first six months of 2017, according to Dubai Land Department (DLD).

A total of 88 projects were launched from the beginning of 2016 until first half 2017, state news agency WAM quoted DLD as saying.

Sultan Butti bin Mejren, Director-General, DLD, said 713 developers and a total of 483 projects are registered in DLD’s database.

Since the establishment of the Real Estate Regulatory Agency (RERA) ten years ago, 535 projects of various sizes have been completed, with 24 projects, launched in the previous years, completing in the first half of 2017, Bin Mejren revealed.

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“Dubai is currently witnessing increasing interest from international investors, which has reinforced confidence in our real estate sector and its future prospects,” he said.

 Last week, the DLD, in a statement issued on WAM, said the total value of property transactions crossed 390 billion dirhams across 95,000 transactions in 18 months, starting from January 1, 2016 until July 31, 2017.

© Zawya Projects News 2017