The real estate sector in Dubai achieved a strong performance during the first half of this year, with a total behavior amounting to 72.5 billion dirhams, through 22.7 thousand procedures.
The behavior report for the first half issued by the Dubai Land Department stated that the total number of investors, during the first six months of 2020, reached 14.6 thousand investors who implemented 18.4 thousand deals, at a value of about 32.15 billion dirhams, indicating that the number of women investing in the sector Dubai real estate has reached 4,536 women, as they registered 5112 investments exceeding 6.6 billion dirhams.
A fresh start
In detail, the report of the first half issued by the Department of Lands and Properties in Dubai showed that the real estate behavior in the emirate recorded a renewed start in the results of the performance of the Dubai real estate market for the second quarter of this year, specifically from the first of April to 30 June 2020, to reflect this gradual return to the path The growth witnessed by the emirate in its various sectors, taking advantage of the packages and incentive initiatives launched by the Dubai government during the past months.
The report indicated that real estate transactions for the second quarter of this year exceeded 24.5 billion dirhams, through 7834 procedures, while 22 thousand and 779 procedures were recorded during the first half of the year, with a total value amounting to 72.5 billion dirhams.
And at the level of mortgage registration of lands, buildings and units in the second quarter of this year, “Sheikh Mohammed bin Rashid Gardens” came first in terms of the number of mortgages, with 205 operations worth 341 million dirhams, while “Mu’aisam Al-Awal” came in second, During 113 operations, with a value of 113 million dirhams.
It was the third rank for the region of "Jebel Ali First" with 107 operations valued at 156 million dirhams, followed by the regions: "Burj Khalifa", "The Alliance 2", "Dubai Marina", "The Second Then" and "Al Barsha South Fourth", And "Al-Safa Valley 7", and "The Fifth Pagan", respectively.
As for registering selling for different types of real estate, including lands, buildings and units in the same period, the scene has topped the "Al-Merkad" area, through 631 sales of 1.52 billion dirhams, then "Dubai Marina" with 515 transactions valued at 1.1 billion dirhams, and came « Al Barsha South Fourth »ranked third, with 430 operations, amounting to 371 million dirhams. The remaining seven centers were among the first 10 in a row for each of: “Business Bay”, “Wadi Al-Safa 5”, “Sheikh Mohammed Bin Rashid Gardens”, “Warsan Al-Oula”, “Burj Khalifa”, “First Khiran”, and “The Second Al-Thania” ».
On the level of investments, the report showed that the first quarter of 2020 witnessed the participation of 9160 investors, who made 11 thousand and 940 investments with a total value of approximately 21.2 billion dirhams, but the second quarter recorded a relative decline after 5528 investors entered into 6523 deals approaching a value of 11 billion dirhams. This brings the total number of investors in the first half to 14,688 investors, with 18,463 deals, amounting to about 32.15 billion dirhams.
Among them, the real estate market in Dubai received 1223 Gulf investors, during the second quarter, registered 1431 investments valued at more than 2.1 billion dirhams.
On the other hand, 706 investors of different Arab nationalities came to the Dubai market, and they completed 798 investment deals, amounting to approximately 1.2 billion dirhams.
The report also showed that the Dubai real estate market maintained its attractiveness to foreign investors, after the emirate attracted 3,444 investors who concluded 3,889 deals, amounting to approximately 5.8 billion dirhams.
From the data for the first half, which was included in the report, it appears that 2895 Gulf investors participated in 3712 real estate investments, the total value of which amounted to six billion dirhams, as it witnessed a demand from Arab investors in the same period, after the entry of 1839 investors of different Arab nationalities, and their registration 2203 investments exceeded Its value is just 3.2 billion dirhams. There was a noticeable increase in the number of foreign investors, who numbered 9,213, all of whom concluded 11,240 investment deals, at a value close to 16.2 billion dirhams.
Women had a share in the total number of investments and their value. In the second quarter, their number reached 1781 women, and they concluded 1922 investment deals, the value of which amounted to about 2.6 billion dirhams.
At the level of the entire first half of this year, the number of women investing in the Dubai real estate sector reached 4,536, and they registered 5,112 investments worth more than 6.6 billion dirhams.
The most prominent areas of activity
"Sheikh Mohammed Bin Rashid Gardens" ranked first in the number of foreclosure operations in the first half of this year, through 558 operations, at a value of 996 million dirhams, while "Dubai Marina" came second with 293 operations, at a value of 817 million dirhams. In sales for the same period, the top spot went to “Dubai Marina” with a total of 1532 sales with 3.375 billion dirhams, then “Business Bay” with 1244 transactions with 1.653 billion dirhams.
A previous report issued by the Dubai Statistics Center showed that the real estate sector in the emirate achieved a positive growth of 3.7% during the first quarter of this year, compared to the same period last year, and contributed 8% to the emirate's economy during the first quarter, representing a positive motive of 0.27 %.
Thus, the sector plays an important role in returning business to its usual pace, entering the recovery phase, and registering a new start.
A woman recorded 5,112 investments exceeding 6.6 billion dirhams in the first half.