Dubai real estate market recorded 379 sales transactions worth AED1.09 billion ($296 million), in addition to 96 mortgage deals of AED319.78 million, and 18 gift deals amounting to AED35.4 million on Thursday, data released by Dubai’s Land Department (DLD) showed.
The sales included 359 villas and apartments worth AED755.34 million, and 20 land plots worth AED331.11 million, while mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million, bringing the total realty transactions of today to over AED1.4 billion.
Real estate sector in Dubai continues to attract investors, who have made 5359 investments worth AED 11 billion ($2.9 billion) 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.