The director general of Dubai Land and Properties Department announced that Dubai real estate market has recorded so far transactions worth 68.84 billion dollars since the start of the year.
Sultan bin Mejren expected the total value of real estate transactions in Dubai to reach 300 billion dirhams over the course of the year.
However, the value predicted by Mejren exceeds last year’s figure by far as the total transactions sealed in Dubai last year reached 267 billion dirhams.
The announcement came on the sidelines of his statement in Cinder Dubai 2016 conference. He said also that investors continue to have faith in Dubai real estate market despite the oil prices crisis.
He added also saying that the government is working on making many smart solutions to acquire the confidence of all customers and guarantee them safety and happiness in all services.
It’s worth mentioning that the Department revealed in its annual report that 55,928 investors from 150 different nationalities invested around 150 billion dirhams in Dubai’s real estate during 2015.