Dubai Land Department (DLD) revealed that the results of the Dubai real estate market during the first eight months of 2018 are encouraging, especially in light of the timely completion of projects.
One of the signs of the real estate market’s attractiveness is its continued ability to attract additional investors who have invested heavily, contributing to sustainable growth.
In DLD’s latest report covering the period from the beginning of 2018 to August 31, HE Sultan Butti bin Mejren, director general of DLD, said: “47 projects were introduced into the market after they were completed based on their set timelines. The completed projects added 14,000 different properties to the market: 10,000 apartments, 364 residential complexes, 2,258 townhouses, and 1,575 villas.
”The success of delivery of the 47 completed projects reflects the interest and commitment of developers who are working with the highest levels of integrity and transparency with investors. At DLD, we seek to consolidate these values in our real estate market, and observe that these projects are characterised by their diversity that help meet the demand for different types of units and avoid excess supply in any category.”
During the reporting period, 1,000 investors received their properties through 900 transactions, with a total value of over AED12bn. These substantial figures demonstrate Dubai’s superiority, its distinctive position as a preferred international investment destination, and its ability to enter into a profitable competition with others through its unique features.
The attractiveness of our real estate sector is not driven by quality projects that offer options to the investor, but from the work values produced by different parties, and the commitment of developers to deliver their projects on time, with integrated infrastructure and intelligent development of all procedures which results in customer satisfaction and happiness. Finally, the existence of legal and established procedures ensures the rights of all real estate parties.