Dubai’s real estate records significant deals, showcasing strong demand for investments and expected growth.
Dubai recorded property deals to the tune of over $653 million (AED2.4 billion) on Thursday, reflecting the rising demand for real estate investments in the city.
Thursday’s property deals included 559 sales transactions worth AED1.81 billion, 120 mortgage deals totalling AED374.77 million, and 110 gift deals amounting to AED221.91 million, data released by Dubai’s Land Department (DLD) showed.
The sales included 499 villas and apartments worth AED1.5 billion, and 60 land plots worth AED307.34 million.
The mortgages included 95 villas and apartments worth AED239.83 million and 25 land plots valued at AED134.94 million.
The Dubai real estate sector has been seeing a bull run for the last several weeks and months, and is expected to post an even higher growth rate in the second half of this year.