Dubai Land Department: AED 58 Billion Total Real Estate Transactions For Q1 2018

Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 (Q1 2018) totalled AED 58 billion through 13,759 transactions.

His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “The Dubai real estate market continues to show continuous growth, driven by general optimism and confidence in the real estate sector.”

Bin Mejren added: “Achieving almost AED 58 billion of transactions shows strong momentum in the real estate sector for Q1, and we expect this to raise the Q2 transaction index and continue to rally before the end of the year. Analysts and experts predict an upsurge as we enter 2019 with unprecedented strength, as many strategic infrastructure projects are due to be completed in Dubai in preparation for Expo 2020.”

Bin Mejren added: “These results have been achieved thanks to our commitment to our leadership’s vision of achieving the highest levels of excellence and developing innovative services that enhance cooperation among investors. Dubai remains an attractive destination for investors seeking a safe return on investment, which is evident from the emirate’s base of investors, who belong to more than 217 nationalities from all over the world.”

According to the report issued by DLD’s Department of Real Estates Studies & Research, Q1 2018 saw a total of 9,092 sales transaction worth about AED 19 billion, 3,717 mortgage transactions worth over AED 30.6 billion, and 950 other transactions valued at AED 8,408 billion.