Dubai property market back on a rising track

08/10/2012 - Dubai Property News
Dubai property market back on a rising track

The Dubai property market is back on a positive track - that’s the opinion of industry experts at Cityscape, a major global property event held recently in the emirate. The exhibition grew by 40% in floor space this year “beating all expectations” and proving investor confidence in the market was back.

The Dubai Land Department’s latest report also reveals the market is back on a rising track, with total residential transactions jumping by 82% in the third quarter of 2012, compared to the same period last year. Nearly 62% of those were recorded in areas such as Emirates Living, Palm Jumeirah and Dubai Marina, home to The First Group’s latest project, TFG Marina Hotel. Rentals in sought after areas such as Dubai Marina have also risen by up to 10%.