Distributed over 35.4 thousand real estate
72.5 billion dirhams Dubai real estate sales in 2020
Real estate sales during 2020 are close to levels achieved during the previous year
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Official statistics published on the Dubai Rest app of the Dubai Land Department showed that sales of Dubai real estate recorded sales of 72.49 billion dirhams in 2020, compared to 81 billion dirhams during the previous year, despite the Corona crisis.
In detail, the figures indicated that real estate sales in Dubai recorded 72.49 billion dirhams during the past year, distributed over 35,434 thousand properties, which is the period that coincided with the emergence of the new Corona virus (Covid-19) globally.
According to the data, sales during the past year are close to the levels achieved during the previous year, which recorded sales of 81 billion dirhams, distributed over 40,142 thousand properties.
The five regions that sold the most real estate in Dubai during 2020 achieved sales of 24.8 billion dirhams, as the Dubai Marina area topped the areas that sold the most real estate, as it witnessed the sale of real estate worth 6.64 billion dirhams, followed by the Burj Khalifa area with a value of 5.14 billion dirhams, and Sheikh Mohammed bin Gardens. Rashid with a value of 4.87 billion dirhams, then a dealer with a value of 4.48 billion dirhams, and finally Business Bay with a value of 3.67 billion dirhams.
"The real estate developer should take into account the conditions of real estate investors and reduce service fees in a way that stimulates investment, in addition to continuing to provide facilities related to the property's payment schedule, in addition to activating real estate financing," W Capital Chairman Walid Al-Zarouni said.
For his part, the real estate consultant, Saleh Tabakh, said, “Paying attention to the stages of completion of the project gives credibility to the market and motivates investors to buy.
The developer should stay away from projects that require a long period of completion, ”adding that the best time to present the project is after the completion of the infrastructure and the completion of at least 30% of the project to gain the investor’s confidence and put forward projects close to completion, given that this provides better market value .
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