Dubai Reality Projects Delivered in First 8 Months Worth Dh12 Billion

Published September 9th, 2018 - 07:47 GMT
Forty-seven realty projects were introduced into the Dubai market and were completed on their set timelines. (Shutterstock)
Forty-seven realty projects were introduced into the Dubai market and were completed on their set timelines. (Shutterstock)

The Dubai Land Department (DLD) on Saturday said 1,000 investors received their properties through 900 transactions worth more than Dh12 billion during the first eight months of this year, demonstrating Dubai's distinctive position as a preferred international investment destination.

DLD director-general Sultan Butti bin Mejren said 47 projects were introduced into the market after they were completed based on their set timelines.

These added 14,000 different properties to the market: 10,000 apartments, 364 residential complexes, 2,258 townhouses and 1,575 villas.

"The success of delivery of the 47 completed projects reflects the interest and commitment of developers who are working with the highest levels of integrity and transparency with investors. We seek to consolidate these values in our real estate market, and observe that these projects are characterised by their diversity that help meet the demand for different types of units and avoid excess supply in any category," he said.

In the DLD's latest report covering the period from the beginning of 2018 to August 31, it said.

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Bin Mejren believes that Dubai can maintain this positive momentum which showcases its features, especially with the availability of promising investment opportunities, leading up to Expo 2020 Dubai and the years that follow. The event is a unique opportunity to reveal the strengths of the local economy and the benefits the real estate sector provides investors with.

"Investors agree on a number of different interests and trends related to the Dubai real estate sector. The attractiveness of the market is based on a number of unique factors, especially the high guaranteed returns, the continuous rise in property values year after year, and the Emirate's ideal environment for living, working, and visiting, making it a high-level investment option," Bin Mejren added.

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