Dubai Moving Up - An astounding USD 17.4 billion real estate transactions in Dubai for Q1 2015
- 28th Apr 2015
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Dubai real estate - the investment frontier
This is some real positive news for real estate investors, property buyers and generally for every businessman. The real estate sales in Dubai for the first quarter of 2015 has touched AED64 billion ($17.4 billion).
This figure is almost 20 times higher than the real estate transactions in the same period last year in Dubai. These are figures released by Dubai Land Department (DLD).
Based on the findings of the Real Estate Research and Studies Department, the total number of registered transactions were 11,603, with sales accounting for 8,000 of them valued at AED24 billion and mortgages accounted for more than AED37 billion from 3,000 transactions.
Interestingly, more than 5000 people from more than 102 countries have bought in Dubai in this period making the amount of non-Arab investment in the Dubai real estate market more than AED12 billion with Indian nationals (more than 1000) being the highest amounting foreign investors, executing deals worth AED3.040 billion worth of property transactions.
The second in the list of foreign investors in the Dubai property market, not surprisingly came from Pakistan with investments of AED1.392 billion in Dubai properties and real estate.
Britishers, Iranians, Russians also accounted for a major investment in real estate in Dubai and these multi nationality investors along with the investors from the gulf region are actually helping the property market in Dubai to grow phenomenally well.
There is a lot of optimism in Dubai and the gulf region with the Expo 2020 happening in Dubai and infrastructure and other developments moving at a good pace.
The confidence in the real estae sector has grown by leaps and bounds recently and the fact that citizens of Gulf Cooperation Council (GCC) contributed highly in Q1 with their investments amounting to AED9 billion from 1,964 investors is testimonial to the faith that the local community has in the potential of growth in Dubai & surrounding locations.
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