04 May 2023, Arabian Business
Wednesday’s deals included 440 sales transactions worth AED830.88 million, 113 mortgage deals of AED1.28 billion and 22 gift deals amounting to AED100.85 million.
Property acquisition deals in Dubai hit another high on Wednesday at AED 2.2 billion amid the unabated surge in demand for real estate assets in the city.
Wednesday’s deals included 440 sales transactions worth AED830.88 million, 113 mortgage deals of AED1.28 billion and 22 gift deals amounting to AED100.85 million, according to Dubai Land Department (DLD) data.
The sales included 419 villas and apartments worth AED711.48 million, and 21 land plots worth AED119.4 million.
The mortgages included 94 villas and apartments worth AED538.96 million and 19 land plots valued at AED736.16 million.
Dubai’s real estate sector has been witnessing a continuous rise in interest from both international and domestic buyers in recent years.
Rising interest and the desire for security is pushing many renters into the sales market, while strong return on investment and market performance is attracting lots of demand from international investors, according to a recent industry report.
International investors flock to the country to seek a safe haven, tax efficiency and positive investment returns, the report said.