Dubai real estate market continues to be active
The head of Dubai Lands and Real Estate Department, Khalifa Mohammad al-Khalafi, said that Dubai real estate market continued to be active during March, and the upsurge tendency is continuing in most of the regions. The department registered 844 procedures of real estate transactions during March, more than half of it were sale/purchase transactions, and most of them concentrated in al-Barsha First region, reported the Emirate newspaper, Al-Bayan (April 4, 2005).
According to the monthly report of Dubai Lands and Real Estate Department, total value of real estate transactions carried out during March hit 2.875 billion
Emirate Dirhams ($782.7 million), which included buying deals, mortgage deals, and granting transactions. Some 433 buying transactions were registered by value of ED 1.686 billion ($459 million), 306 mortgage transactions by value of ED 940.85 million ($256.1 million), and 105 granting transactions by value of ED 47.752 million ($13 million).
Al-Barsha First was the leading region in terms of sales' value, since it occupied 15.29% of the total sales' sum with ED 285.768 million ($77.8 million). Prices in this region ranged between ED 200 ($54.4) for 1 square meter to ED 990 ($269.5) per each square meter, and in an average price of ED 552 ($ 142.4) per square meter.