Dubai’s weeklong real estate transactions reach Dhs7.1b
25 February 2022, Gulf Today
The real estate and properties transactions valued at Dhs7.1 billion in total during the week ending 25 February 2022, according to Dubai Land Department (DLD).
The DLD weekly real estate report sum of transactions was 2,064. Another 300 plots were sold for Dhs2.58 billion, 1,382 apartments and villas were sold for Dhs2.88 billion.
The top transactions were a land in Marsa Dubai sold for Dhs535.92 million, followed by a land that was sold for Dhs476.81 million in Marsa Dubai.
Al Hebiah Fifth recorded the most transactions for this week by 131 sales transactions worth Dhs288.54 million, followed by Jabal Ali First with 67 sales transactions worth Dhs225.98 million, and Al Merkadh with 21 sales transactions worth Dhs109 million in third place.
The top three transfers for apartments and villas were an apartment was sold for Dhs518 million in Marsa Dubai, an apartment was second in the list sold for Dhs250 million in Al Khairan First, and thirdly it was an apartment sold for Dhs241 million in Burj Khalifa.
The sum of the amount of mortgaged properties for the week was Dhs1.42 billion, with the highest being a land in Business Bay, mortgaged for Dhs173 million.
57 properties were granted between first-degree relatives worth Dhs278 million.
IPS to attract 600 HNI investors: A delegation of more than 600 global High Networth Individual (HNI) real estate investors will take part in the International Property Show 2022 (IPS 2022), to be held at from 24-26 March in Dubai International Convention and Exhibition Centre.
The ten-day global delegation programme aims at exploring new opportunities for real estate investment in Dubai, where investors will undergo a series of intensive presentations and meetings.
Coming from various countries in Europe, North America, Latin America, Asia and Africa, the delegation represents a qualitative addition to the portfolio of visitors of IPS 2022.
With the aim of attracting more real estate investments to Dubai and contributing to the Emirate’s vision of increasing foreign direct investment and creating investment opportunities for the growth of the national economy, IPS is the annual event dedicated to developers and individual retailers in Dubai.
“Real estate investment is one of the major economic pillars of the Emirate of Dubai and the UAE. IPS 2022 will display unique solutions to support this vital sector as it attracts more investors from all over the world, aiming to avail from offerings of real estate developers participating in the show,” said Dawood Al Shezawi, President of Strategic Exhibition and Conference and Head of Organizing Committee of IPS.
“The visit of a delegation of 600 leading global real estate investors to the show and their 10-day stay in Dubai represents a great opportunity to further boost potential real estate investments in Dubai as the industry is witnessing exponential growth over short and long term. We welcome leading real estate developers from the UAE and the region at large to participate in the show and connect with the global investors delegation, as well as to share knowledge and experience to support the real estate sector,” he added.
IPS 2022 will raise real estate awareness through a leading initiative at the show, which involves educational workshops to be attended by real estate brokers, agents and executives working in the realty market to learn about the latest trends in real estate markets in the region and around the world, the features and dynamics of the real estate industry and methods of increasing investments and promoting sales solutions, post-sale services and other related topics.
This step aims to create greater awareness of the real estate field in order to enhance the market competitiveness by training personnel who have the knowledge and skills to push the sector forward.
Moreover, IPS features the ‘Invest in Dubai Real Estate’ initiative, a favorable destination of the real estate industry and one of the most prominent initiatives of Dubai Land Department to promote real estate opportunities in Dubai. The initiative will reveal unprecedented interactive features during the show to provide an extraordinary experience for the global real estate community visiting the event.
This leading initiative for the real estate industry in Dubai, uses state-of-the-art virtual technology based on a digital platform aiming to further boost the realty industry in the Emirate. This initiative will also generate more intensive commercial opportunities for the real estate market in Dubai, in conjunction with IPS.
‘Invest in Dubai Real Estate’ initiative also contributes to linking exhibitors, developers, investors and professionals around the world to maximize real estate investment opportunities in the market with a view to further promote and sustain investment growth in the Emirate of Dubai.