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Dubai records 3,787 real estate sales transactions in February

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Transactions worth $2 bn were completed during the period

Dubai has recorded 3787 real estate transactions in the month of February this year, according to the 12th edition of Mo’asher, Dubai’s official sales price index that was launched by Dubai Land Department (DLD) in cooperation with Property Finder. Transactions worth $2 billion were completed during the period, which is a 8.9 percent rise when compared to January.

The report further revealed that around 67 percent of the transactions were for secondary properties whereas, around 33 percent were for off-plan properties. Around 10.3 percent of all sales in the villas/townhouses sector were reported Nad al Sheba, followed by Dubai Hills Estate with 8.3 percent, Green Community with 8 percent, Arabian Ranches with 4.7 percent and Dubailand with 4 percent.

Dubai’s real estate sector recorded around 51,414 sales transaction worth Dh175 billion in 2020 despite the coronavirus pandemic and economic uncertainties, according to a report by the Dubai Land Department (DLD). During the period, Dubai attracted 31,648 new investors and investments worth over Dh73.2 billion.

Sultan Butti bin Mejren, Director General of DLD told the media, “Dubai’s robust investment environment and its ability to adapt to various circumstances, guided by the leadership’s strategic vision to strengthen the capabilities of the emirate’s real estate sector.”

The 51,414 transactions recorded in 2020 validate the success of the government incentive packages that enhanced the market’s attractiveness and provided several opportunities for investors and developers who were keen to continue construction and deliver projects accordingly.”

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