Dubai property investments top AED19bn in first eight months of 2018
Dubai’s thriving property market generated investments worth more than AED19 billion ($5.17 billion) in the first eight months of 2018, according to new data issued by the Dubai Land Department (DLD).
The DLD also revealed around 9,500 new investors completed property purchases during this period.
The news follows on from an earlier report which revealed that AED12 billion (US$3.26bn)-worth of new property developments were delivered to 1,000 investors in the first eight months of 2018. In excess of 900 transactions were recorded covering 47 new projects that were released to market in the period ending 31st August, according to DLD statistics.
Commenting on the latest results, HE Sultan Butti bin Mejren, director general of DLD, said: "Dubai's real estate market acquired a sustainable reputation due to a range of innovative initiatives and proactive solutions that have made it the world's most attractive investment destination, with the most advanced solutions, applications, and smart services that ensure customer ability to conclude transactions easily, transparently, safely, remotely and at any time.
“Our smart solutions played a key role in consolidating Dubai's position as a preferred investment destination that provides a legislation system that protects investors' rights, as well as great privileges in recognition of their trust in our real estate market, and for choosing the Emirate as a safe haven for their long-term investments in the real estate market."
Dubai’s real estate market continues to lead the region in terms of transparency, providing greater confidence to investors, according to property analyst JLL’s most recent Global Real Estate Transparency Index, (GRETI).
According to JLL, Dubai was among the top three improvers worldwide in the report’s 'Semi-Transparent' category and rose eight places to 40 out of 100 markets covered in 2018 (from 48 in 2016).