Data of the Department of Lands and Properties in Dubai revealed that real estate dispositions (sale and mortgage only) in the emirate reached 28.3 billion dirhams last December.
The data showed that mortgages acquired most of these actions at a value of 21.8 billion dirhams, with a number of deals amounting to 2956 deals, while sales transactions recorded 6.5 billion dirhams, with a total number of deals amounting to 2909 transactions.
According to the statistics, among the most prominent areas that witnessed real estate sales registration, Al Barsha South was the fourth, with a value of 681 million dirhams, followed by Jumeirah First with a value of 630 million dirhams, then the Burj Khalifa area with a value of 480.7 million dirhams, then Dubai Marina with a value of 479.9 million dirhams, then The first Khiran, with a value of 330.9 million dirhams.
As for the five most important mortgage transactions in December 2019, a mortgage transaction amounting to 10 billion dirhams was in the Dubai Marina area, followed by another transaction in the same region with a value of 1.1 billion dirhams, while it came in third place with a transaction worth 800 million dirhams in the first Jumeirah region, followed by A transaction in Umm Hurair II, with a value of 736 million dirhams, while a fifth place transaction came in the Al-Riffa region, with a value of 269 million dirhams.
With regard to the most important sales transactions, the Burj Khalifa region recorded a transaction with a value of 20 million dirhams, followed by a sale transaction in the first Jumeirah region with 15.7 million dirhams, while the third place was treated with a value of 13.9 million dirhams in the Dubai Marina area, then a transaction with 13 million in the Burj area Khalifa, and another at the same value in the Dubai Marina area.
To that, two real estate experts attributed this good performance of the real estate sector in Dubai, during the last month of last year, to several reasons, including optimism for the new year coinciding with the hosting of the Expo 2020 Dubai exhibition, in addition to the facilities provided by real estate developers.
The real estate expert, Abdul Karim Al Mulla, said that there is great optimism on the part of real estate investors in 2020, and the possibility of moving real estate prices upward, which contributed to making investment decisions that appeared in the last months of 2019, supported by the proximity of the "Expo", and by the facilities. For his part, Said Abdul-Karim Al-Fahim, CEO of Stratum, said that the real estate sector is waiting for a good performance during the current year.