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11,387 new investors enter the market, comprising 66 percent of total registered investors since the beginning of 2021
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Hadaeq Sheikh Mohammed Bin Rashid topped the list of villa sales
Real estate sector in Dubai continues to attract investors, who have made 5359 investments worth AED 11 billion ($2.9b) in May 2021, according to the Dubai Land Department’s Real Estate Updates.
Also, 11,387 new investors entered the market, comprising 66 percent of total registered investors since the beginning of the year.
The updates added that a total of 6,021 real estate transactions worth AED21.8 billion were recorded in May 2021, which is 197 percent higher compared to May 2020, 35 percent compared to May 2019, and growth in value of 221 percent compared to May 2020.
Real estate sales transactions represented 74 percent of the total number of real estate transactions during May 2021 and achieved a growth of over 214 percent compared to May 2020.
The bulletin showed that the value of real estate brokerage achieved by effective real estate brokers in Dubai’s real estate reached AED827 million since the beginning of the year.
Besides, 253,959 Ejari contracts were recorded in January – May 2021, 53 percent of which were new contracts and 42 percent renewals.
The residential sales index achieved 1,071 points during May 2021, with a growth rate of 7.1 percent compared to the base year.
Hadaeq Sheikh Mohammed Bin Rashid topped the list of villa sales, followed by Wadi Al Safa 5, Wadi Al Safa 7, Al Thanyah Fourth, and Palm Jumeirah.
In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth were the top five areas.
The department said the real estate sector will witness increased growth and a greater recovery in the coming period, with the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the world and constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.
