Property deals in Dubai in 2018 crosses the $44bn mark


The Department of Real Estates Studies and Search in Dubai Land Department (DLD) announced that the recorded property sales in the emirate within the first three quarters of 2018 have exceeded the $44bn mark. This marks a 20% decrease from the sales of the same period of 2017 despite the fact that number of deals themselves have increased by around 2,000 sales in 2018.

According to the report issued by the department, the property buyers and investors came from 163 countries, including 16 arab countries. Besides the Emiratis, the most investing nationalities were topped by Saudi. Pakistani, and British.

On the other hand, the top destinations that could successfully attract those investors in Dubai included Dubai Business Bay, Dubai Marina, Al Merkadh, Burj Khalifa, and Jebel Ali First.

In his comment on the issued figures, Sultan Butti bin Mejren, general director of Dubai Land Department, explained that recently-issued long-term visas have solidified Dubai’s position as one of the most renowned attractions of investments and tourism in the GCC region and the entire world.

Bin Merjen added that these numbers reflect the investors’ trust in Dubai’s investment environment which will witness an ongoing growth as the anticipated Expo 2020 Dubai mega event draws near.