177 thousand new rental contracts in Dubai within 9 months

The Dubai Land Department revealed that the number of lease contracts that have been documented reached 369,055 contracts and that the percentage of renewed contracts amounted to 52% of the total number, while the share of new contracts reached 48% in the period from January to the end of last September with a total number of new contracts amounting to 177,146 new decade.

In the real estate bulletin issued by the Dubai Land Department under the name "Real Estate Sciences", the department clarified that 10728 new investors entered during the first nine months of this year, as new investors represented 70% of the total number of investors during that period.

The real estate bulletin showed that the real estate market in the emirate has maintained its attractiveness among local and international investors, despite the unexpected effects due to the outbreak of the emerging "Covid-19" virus.

The real estate bulletin referred to the total investment inflows in the emirate, which reached 50 billion dirhams in the real estate market, as transactions and mortgages, resulting in 706 million dirhams in commissions owed to real estate brokers during the first nine months of the year 2020.

The bulletin highlighted the five best areas in terms of investor attractiveness. The category of villas was the first in the areas of “Al Habiya Fourth”, “Wadi Al Safa 5”, “Al Yalais 2”, “Airport City” and “Wadi Al Safa 7” .. while the “Burj Khalifa”, “Nad Hessa” and “Al Hebiah First” areas were the first And “Al Barsha South Fourth” and “Sheikh Mohammed bin Rashid Gardens” are among the other areas in terms of apartment sales.

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