Realtors: the entry of new investments in conjunction with the improvement in investor appetite

13.16 billion dirhams, the transactions of Dubai real estate during October

  • Competitive offers among real estate developers feature in a good list of facilities for the ultimate investor.

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  • Abdul Karim Al Mulla: "The price correction has attracted a large number of new investors to the real estate market."

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Data from the Dubai Land Department showed that real estate transactions in the emirate (sale and mortgage only) achieved 13.16 billion dirhams this October, distributed between 6.92 billion dirhams in sales and 6.24 billion dirhams as mortgages.

For their part, real estate developers confirmed to Emirates Today that the real estate market witnessed the entry of new investments, in conjunction with the improvement in the appetite of investors towards real estate investment, in addition to a price correction that created many opportunities for investors, pointing out that prices have reached attractive levels to buy, With corporate offers, especially with regard to payment facilities.

They indicated that coexistence with the repercussions of the Corona pandemic contributed to moving the wheel of real estate investment.

Real estate disposals

In detail, data from the Dubai Land Department showed that real estate transactions in Dubai (sale and mortgage only) achieved 13.16 billion dirhams during this October, and sales accounted for 6.92 billion dirhams of them, through the number of transactions amounted to 3396 deals.

The five most important sales came in the Burj Khalifa area, which came in first place, with a record of 526 million dirhams, and in the second place Al-Habiya area fourth, with total sales of 525 million dirhams, then Dubai Marina with sales of 465 million dirhams, and Palm Jumeirah achieved fourth place with total sales of $ 525 million. 444 million dirhams, and in the fifth place came the Sheikh Mohammed bin Rashid Gardens District, with sales of 369 million dirhams.

While the mortgages recorded 6.24 billion dirhams, the five most important mortgages came in the Business Bay areas with a value of 1.1 billion dirhams, and in the second place Al-Jaddaf with a value of 479 million dirhams, then the Al-Garhoud area with a value of 382 million dirhams, and in the fourth place the Dubai Marina area registered 382 million dirhams, and in the center The fifth is the Nad Al Sheba third area, with a value of 214 million dirhams.

Corona crisis

For his part, CEO of Standard Real Estate Management, Abdul Karim Al Mulla, said that “the real estate situation in Dubai is improving well, in conjunction with the coexistence of people with the repercussions of the Corona crisis, as things began to return to normal in the period before this health crisis. , In addition to the price correction in the market, which attracted a large number of new investors to the real estate market, and the facilities and promotional offers made by a number of developers contributed to the movement of the investment decision.

In the same context, the real estate expert, Hisham Al-Assaad, said that the market is witnessing good movement by investors to take advantage of the opportunities available in the market, especially in conjunction with the strong promotional offers in the real estate arena, and the competition between developers to attract these investors by offering a reduction on the sale value. As well as the facilities in payment, which is in the interest of the final investor.

For his part, the founder and director of the Royal Liwan Real Estate Company, Mohamed Bouhareb, said that there are five factors that have contributed to revitalizing the market, the first of which is the coexistence of people with (Corona), which encourages the return of investment to its normal rates.

The second factor is the promotional and competitive offers among real estate developers, which appeared in a good list of facilities for the final investor, and the third factor is that prices reach good levels with which the investor can find a good return on his investments in the future.

The fourth factor is the control steps taken by the regulatory authorities to preserve the rights of all real estate parties.

Finally, the real estate investor’s psychology has improved towards the real estate sector.

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