Al Rowad Real Estate: 4,433 sales transactions were recorded, with a value of 10.63 billion dirhams
Real estate sales in Dubai recorded in July the highest level in 5 years
Ismail Al Hammadi: "The real estate market in Dubai is unusually active during the summer season of this year."
Al-Rowad Real Estate Corporation, which specializes in real estate marketing and consultancy, conducted a monitoring process for the real estate market sales in Dubai, based on the data of the website of the Land Department, and reported that the real estate market in Dubai recorded about 4433 sales transactions during the month of July of this year, with a total value An amount of 10.64 billion dirhams, distributed over 3,201 housing units, 483 buildings and villas, and 749 plots of land.
The monitoring showed that apartment sales came in at 4.89 billion dirhams, followed by land sales with 4.62 billion dirhams, then villas sales with 1.13 billion dirhams.
real estate sales
The founder and CEO of Al Rowad Real Estate, Ismail Al Hammadi, said that “real estate sales recorded during the month of July of this year are the highest value on a monthly basis since five years ago (2017, 2018, 2019 and 2020), as the value of sales during the same month of these years reached over 4.6 billion dirhams in 2020, 7.3 billion dirhams in 2019, 6.6 billion dirhams in 2018, and 7.9 billion dirhams in 2017.”
Al Hammadi added that the real estate market in Dubai, unusually, recorded remarkable activity during the summer season of this year, recording total sales of 25.98 billion dirhams during the months of June and July, through which 10,766 real estate units were sold, while the market was recording, during Over the past years, there has been a noticeable decline in the number and value of sales transactions during the summer season.
He stressed that this matter is calculated in the interest of the market and its success in overcoming the “Covid 19” crisis, and the speed of recovery of the real estate sector, as a result of the recovery of the national economy, thanks to the large support packages provided by the local and federal government, and the set of facilities that were accompanied by the developers, which gave confidence to the local and foreign investor. Dubai's ability to overcome the most difficult, which has boosted confidence in the emirate's real estate.
According to the "Al Rowad Real Estate" monitoring, the results of the month of July 2021 showed that the Dubai Marina area topped the list in terms of the value of residential apartment sales with a value of 1.4 billion dirhams, and included the sale of 363 apartments, followed by the Palm Jumeirah area with a value of 842.4 million dirhams, which included the sale of 109 apartments, then The Business Bay area with a sales value of 544.7 million dirhams, including the sale of 282 apartments.
At the level of villas, Al Hebiya Fourth topped the sales areas with a value of 222.3 million dirhams, which included the sale of 82 villas, then Sheikh Mohammed bin Rashid Gardens, with a value of 159.6 million dirhams, with the sale of 60 villas.
With regard to the value of land sales, Sheikh Mohammed bin Rashid Gardens topped the list in terms of sales, with a value of 836.3 million dirhams, and included the sale of 82 plots of land, followed by Jumeirah First with the sale of 60 plots of land, valued at 510.8 million dirhams, then Al Jazeera 2 (Bulgarian) with a sale Three plots of land worth 230 million dirhams.
The Dubai real estate market recorded, from the beginning of the current year until the end of July, real estate sales with a total value of more than 72.8 billion dirhams, with a number of sales transactions of 31,662 transactions.
Al Hammadi expected a higher activity for the real estate sector during the coming period, with the approach of Expo 2020 Dubai, and the entry of investors from new markets to the market.
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