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Dhs 12.76 billion real estate transactions in late 2015

UAE - January 4, 2016

In a data issued by Dubai Land Department, it showed thatDubai real estate transactions recorded around Dhs 12.76 billion during December 2015. Dhs 7.36 billion were in the selling transactions of lands, apartments and villas, while Dhs 5.4 billion were in mortgage transactions.

Mohanad Alwadiya (CEO – Harbor Real Estate) pointed that real estate investors are lingering so they can seize the opportunities in the future.

Abd El-Kereem (CEO – Standard Company) added that usually the real estate market is stable in this time of the year, as most of the investors linger their investing decisions for the New Year, hoping that the situations improve so they can seize new investing chances. He also added that this stability will last until the first quarter of 2016.

He also pointed that the fund to invest do exist, but the international factors (not the local ones) stopped the investor’s guts to enter the market, waiting for the situations to get better by the New Year.

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