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Dubai's real estate transaction in March soars to $6.2bn

DUBAI, April 23, 2021

 A total of 6,590 real estate transactions in Dubai were recorded in March valued at about AED23 billion ($6.26 billion), according to the real estate bulletin issued by Dubai Land Department (DLD) under the name ‘Real Estate Updates'.
 
There was a 43 percent growth in the number of deals, while its value grew by 40 percent compared to March last year. 
 
The DLD real estate bulletin also noted that last month it had recorded the second highest number of real estate transactions since February 2017.
 
The bulletin showed that real estate transactions in Q1 achieved a significant growth of 27 percent compared to 2020 and and 47 percent over 2019.
 
DLD highlighted its continued attractiveness of the real estate sector to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64 percent of the total number of investors during the same period. 
 
The value of real estate brokerage commissions achieved by active real estate brokers in the real estate market reached AED 392 million in Q1 2021, while 143,374 Ejari contracts were recorded in Q1 2021, 57 percent of which were new contracts and 43 percent were renewed.
 
According to DLD bulletin, the top five areas popular among investors in villa sales were, Hadaeq Sheikh Mohammed Bin Rashid, which topped the Q1 list followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1, and Al Thanyah Fourth. 
 
In apartment sales, Dubai Marina, Palm Jumeirah, Business Bay, Burj Khalifa, and Al Merkadh topped the list in Q1 2021.-TradeArabia News Service



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