Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 (Q1 2018) totalled AED 58 billion through 13,759 transactions.
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate sector.”
Bin Mejren added: “Analysts and experts predict an upsurge as we enter 2019 with unprecedented strength, as many strategic infrastructure projects are due to be completed in Dubai in preparation for Expo 2020.”
He also added: “Dubai remains an attractive destination for investors seeking a safe return on investment, which is evident from the emirate’s base of investors, who belong to more than 217 nationalities from all over the world.”
According to the report issued by DLD’s Department of Real Estates Studies & Research, Q1 2018 saw a total of 9,092 sales transaction worth about AED 19 billion, 3,717 mortgage transactions worth over AED 30.6 billion, and 950 other transactions valued at AED 8,408 billion.
UAE nationals outnumbered all other nationalities including Gulf, Arab and foreign countries, totalling AED 4 billion through 1,587 transactions made by 1,264 investors. They were followed directly by the 1,387 Indian nationals who invested AED 3 billion through 1,550 transactions. Saudis came in third place with investments of nearly AED 1.3 billion, Pakistan and the UK followed on fourth in fifth place, and Chinese, Egyptian, Russian, Jordanian and Canadian nationalities ranked from the 6th to 10th respectively.