DUBAI -Dubai has reported 25,455 real estate deals worth AED92 billion from January – April 2021, thus achieving the rise of 51% in terms of the number of deals and 72% in terms of their value compared to the same period in 2020.
As per the real estate bulletin provided by Dubai Land Department (DLD) under the name ‘Real Estate Updates’, the real estate sector portrayed robustness and an ability to get the various circumstances and developments.
The bulletin showed that the real estate sector in the emirate will carry on to get more real estate investors, thanks to its strong infrastructure and attractive investment opportunities. 8,749 new investors stepped into the market from January – April 2021, showing 6% of the whole figure of real estate investors reported in that period, with a gain of 54% in comparison to the same period in 2020.
The bulletin also showed that the total cost of real estate investments during the aforementioned period touched AED36 billion, a rise of 44% in comparison to the same period in 2020. This shows the continued flow of real estate investments since the starting of the year at a high rate, which also increases the trust of local and international investors alike.
187,949 Ejari contracts were reported 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 calculated that the real estate sector will see rise growth and a greater recovery in the forthcoming 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, adding on to the fast-approaching date of Expo 2020, which will attract tourists and visitors from all over the globe and will create a great opportunity for the real estate sector to strengthen its place regionally and also globally.