Dubai Marina topped the list of the top 10 real estate sales areas in Dubai during 2019, based on the latest data issued by the Emirate's Lands and Properties Department. According to the statistics, the value of the properties that were sold in the last year amounted to 81 billion dirhams, distributed over 40 thousand and 249 properties.

The list was followed by the Burj Khalifa, Sheikh Mohammed Bin Rashid Gardens, Wadi Al Safa, First Khiran Valley, Business Bay, Palm Jumeirah, Al Merkad, Al Barsha South Fourth, and Jumeirah First, along with other regions.

real estate market

The real estate expert and chairman of the board of directors of “W Capital Real Estate Brokerage Company,” said Walid Al Zarouni, that the real estate market in Dubai continued during the past year to provide attractive offers to investors, end users and tenants alike, which led to the continued momentum in those vital areas with competitive prices. , Which represents the right direction for the movement of the real estate market in the presence of an environment conducive to making profitable deals.

He pointed out that it is noted that the freehold areas are still enjoying more demand for investment, especially by non-citizens investors, over the past 10 years, and among these areas are Dubai Marina, Burj Khalifa, First Khiran, Sheikh Mohammed Bin Rashid Gardens, Al Merkad, Business Bay, The Palm Jumeirah.

Dubai Marina

He pointed out that recent statistics of the Land and Property Department showed that the Dubai Marina area topped the emirate’s regions in terms of sales value over the past year, after selling about 3366 properties valued at eight billion and 67 million dirhams.

Statistics showed that the Burj Khalifa area (Downtown Dubai) came second in terms of sales value, with seven billion and 894 million dirhams distributed over 2368 properties.

According to statistics, the Sheikh Mohammed bin Rashid Gardens area ranked third with a value of four billion and 920 million dirhams, after the sale of 2430 properties, then Wadi Al-Safa Region 5 ranked fourth with a value of four billion and 541 million dirhams, after selling 1993 properties, followed by the fifth region "The First Khiran" after the sale of 2495 properties, valued at four billion and 410 million dirhams. And the Business Bay area ranked sixth with a value of four billion and 79 million dirhams after the sale of 2999 properties, then the Palm Jumeirah region ranked seventh with a value of three billion 741 million dirhams distributed over 914 properties.

Running area

And Al-Merkad area ranked eighth, with a value of two billion and 680 million dirhams, distributed over 1711 properties, followed by the ninth place in Al-Barsha South Region, with a value of two billion and 306 million dirhams, distributed over 1844 properties. In the tenth place came the first Jumeirah region with a value of two billion and 246 million dirhams distributed over 764 properties.

Walid Al-Zarouni indicated that there are five main reasons that prompted these regions to achieve good selling rates, the first of which is: the strategic location and its proximity to the vital Dubai and business areas, and the second: the integrated infrastructure of that region and then the investment return, high demand rates, as well as the average prices that suit Many investors compared to other regions.

He explained that the modern Dubai areas have become one of the most important and most demanding real estate areas during the past years, as they witnessed high occupancy rates, and created a more active market by all nationalities, as the emirate embraces more than 200 different nationalities that coexist and work together.

Al-Zarouni stressed that the data that the real estate market witnessed in the past year predicts a state of optimism and recovery for 2020, adding that the coming months of this year until the launch of the events of “Expo 2020 Dubai” contribute to supporting the general landscape of the real estate sector and the beginning of gradual growth in Tourism development and the flow of millions of visitors continued, in addition to the superiority of infrastructure and the opening of major and new development projects that attract more jobs, which in turn reflects positively on the property in the sales and rental markets.

He added that the overview of the real estate market in Dubai in the long term, seems positive and promising, and these data reflect the real reality of the real estate market, which has proven its investment status and attractiveness at the top of the list of interests of investors and companies locally and globally, in light of many factors that distinguish it, whether from Where the annual returns or government incentives and initiatives announced during the past year.

He pointed out that the most prominent 10 housing complexes in Dubai offer returns ranging between 6% and 9.5%, which is higher than the major rental returns in major international cities, such as London or Hong Kong, where the returns are currently less than 5%, according to the last report. Issued by "Chestertns", under the title "Market Watch - Dubai Real Estate Market Report for the Fourth Quarter of 2019".

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Properties sold in Dubai Marina area during 2019.