123.4 Billion Dubai Real Estate Transactions In The First Quarter

30 March 2023, Globe Echo World News

During the first quarter of this year, the real estate sector in Dubai continued the march of record performance, supported by the state of prosperity witnessed by the emirate’s overall economy, as the total real estate transactions registered from the beginning of this year until yesterday amounted to 123.3 billion dirhams, and the value of real estate sales during this period amounted to 84.8 billion. Dirhams, compared to 55.5 billion dirhams, the value of sales recorded in the same period last year, with a growth of 53%, while the total value of mortgages amounted to 30 billion dirhams, in addition to gifts worth 8.6 billion dirhams, according to data from the Dubai Land Department.

The value of real estate transactions during the month of March amounted to 44.7 billion dirhams, and sales of 30.2 billion dirhams were recorded from the beginning of the month until yesterday, March 29, with a growth of 34% compared to the same month of last year, which witnessed sales of 22.5 billion dirhams. During the month, real estate mortgages were registered. At a value of 12 billion dirhams, in addition to donations worth 2.5 billion dirhams.

And last February recorded real estate transactions worth 40.1 billion dirhams, which included sales of 26.6 billion dirhams, mortgages worth 10.8 billion dirhams, and donations worth 2.7 billion dirhams, while January recorded transactions worth 38.5 billion dirhams, which included sales of 27.9 billion dirhams and mortgages worth 7.2 billion dirhams. Endowments worth 3.4 billion dirhams.