10.7 thousand new investors within 9 months
Despite "Corona" ... Dubai maintains its real estate attractiveness for investors
Dubai Land: 48% share of new contracts within 9 months.
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A real estate bulletin issued by the Dubai Land Department, under the name "Real Estate Sciences", showed that the real estate market in the emirate has maintained its appeal among local and international investors, despite the unexpected effects of the outbreak of the new Corona virus.
Dubai Land stated that one of the most prominent data included in the bulletin to confirm this was the entry into the market of 10 thousand and 728 new investors, representing 70% of the total number of investors during the first nine months, from the beginning of 2020 until the end of September 2020.
As another indication of the market's vitality during the period covered by the prospectus, "Dubai Land" reported that the number of lease contracts that have been documented reached 369 thousand and 55 contracts, pointing out that the percentage of renewed contracts amounted to 52% of the total number, while the share of new contracts was 48% in The period from January to the end of September 2020.
In the same context, 50 billion dirhams poured into the real estate market in real estate transactions and mortgages, resulting in 706 million dirhams in commissions due to real estate brokers during the first nine months of 2020.
The newsletter highlights the top five areas for investor attractiveness;
As the forefront of the areas of “Al Habibiya Fourth”, “Wadi Al Safa 5”, “Al Yalayis 2”, “Airport City” and “Wadi Al Safa 7” were in the category of villas, while the “Burj Khalifa” and “Nad Hessa” regions outperformed. And “Al Habiya Al Awal”, “Al Barsha South Fourth”, and “Sheikh Mohammed Bin Rashid Gardens” are other areas in relation to apartment sales.
50
One billion dirhams poured into the real estate market as transactions and mortgages within 9 months.
706
Millions of dirhams commissions owed to real estate brokers.
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