Dubai registers $25bn real estate transactions from Jan to April 2021
Dubai has registered 25,455 real estate transactions worth $25bn (AED92bn) from January to April 2021, marking a spike of 51% in the number of transactions and 72% in the value, compared to the same period in 2020.
According to the Dubai Land Department (DLD) real estate bulletin titled ‘Real Estate Updates,’ the real estate sector showed robustness and an ability to adapt to various circumstances and developments.
The bulletin revealed that the real estate sector in the emirate will continue to attract more real estate investors, due to its strong infrastructure and attractive investment opportunities.
From January to April 2021, 8,749 new investors entered the market, representing 65% of the total number of real estate investors registered in that period, with a growth of 54% compared to the same period in 2020.
The bulletin further revealed that the total value of real estate investments during the four-month period reached $9.8bn (AED36bn), registering an increase of 44% compared to the same period in 2020. This confirms the continued flow of real estate investments since the beginning of the year at a high rate.
In the same duration, 187,949 Ejari contracts were recorded, 58% percent of which were new contracts and 42% were renewed contracts.
The report highlighted the top five areas for investor attractiveness. In |villa sales, Hadaeq Sheikh Mohammed Bin Rashid topped the list in April 2021, followed by Palm Jumeirah, Wadi Al Safa 5, Wadi Al Safa 7, and Al Yelayiss 2. In apartment sales, Dubai Marina, Burj Khalifa, Palm Jumeirah, Business Bay, and Al Thanyah Fifth topped the list in April 2021.
It is expected that the real estate sector will witness increased growth and a greater recovery in the coming period following the permission of Dubai's Supreme Committee of Crisis and Disaster Management to submit electronic permit applications for business activities of all kinds, in addition to the fast-approaching date of Expo 2020, which in turn will attract tourists and visitors from around the world and will constitute a great opportunity for the real estate sector to strengthen its position regionally and globally.