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The deals are a sign that the worst is over and smart recovery is picking up
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The realty market is projected to further pick up over the coming months
UAE property market saw Dh68.6 billion ($2.3 billion) in transactions in quarter first (Q1’21), in a fresh sign that the worst is over and smart recovery is accelerating thanks to increased spending on infrastructure development, and the recorded growth in trade and tourism sectors across the nation.
Statistics revealed by the departments concerned in Abu Dhabi, Dubai, Sharjah and Ajman reflect investor demand for property in the four emirates, with both Abu Dhabi and Dubai registering Dh59.2 bn of realty deals in the reference period, accounting for 86 percent of the total transactions in the four emirates.
Dubai recorded Dh47.7 bn in transactions in the first three months, a YoY growth of 47 percent, according to the statistics of the Department of Land and Property in Dubai, which added that a total of 5,800 investors conducted property deals from January through March.
In Abu Dhabi, Dh11.5 bn of deals were logged by the Department of Municipalities and Transport – Abu Dhabi City Municipality, which said that 3847 deals were conducted during the reference period.
in Sharjah, Dh6.7 bn of property deals were struck during the first quarter, a growth of 84.9 percent over the same period last year through a total of 20,448 transactions, according to the figures released by the emirate’s Real Estate Registration Department.
In Ajman, a Dh2.7 bn of deals were conducted, according to the emirate’s Department of Land and Real Estate Regulation, which projected the realty market to further pick up over the coming months.
