Dubai property deals in 2015 amount to AED267 billion
Dubai Land Department (DLD) recently released a report about real estate deals in Dubai during 2015, issued by Real Estate Research and Studies Department.
The report showed that the total value of deals recorded a substantial increase of eight per cent over the past year, compared with the previous year.
The report pointed out that the value of land and real estate deals in Dubai has exceeded AED267 billion, achieved through 63,719 deals during the past year. Sales accounted for 49 per cent of the total value of deals.
HE Sultan Butti Bin Merjen, director-general of DLD, said: “These quarterly reports issued by our experts assure that the Dubai market has reached a stage of wise maturity and rational dealing with the various sides in the real estate market. If we look at the moves that have been recorded over the past year, we can clearly see the optimal policies followed by senior developers to diversify their products and put forward their proposals to acquire full confidence on the part of customers and investors.”
The report shows that the total number of sales deals for the year increased to 48,000, with a total value exceeding AED130bn, while the share of mortgages reached more than 12,000, valued at approximately AED117bn.