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FinancialNews
10-01-18
Dubai real estate market reach USD77.6bn worth of transactions
(MENAFN) Based on yearly outcome of the Dubai Land Department (DLD), the real estate market in Dubai has reached over AED285 billion worth of 69,000 transactions completed throughout 2017.
The market saw last year a 6% rise in the quantity of transactions done in 2016, with a 4% increase in the value, as indicated by the 2017 data which consist of, among others, mortgages and sales.
DLD director general Sultan Butti bin Mejren assured "the 2017 report sends reassuring messages of renewed cycles of growth in the coming years, especially when we take into account the modern-day infrastructure that exists in Dubai."
The director general added "the numbers and figures contained in the report confirm the strength of the Dubai real estate market and its ability to grow from year to year. Among the positive signs of the report is the lead UAE nationals have in investments, as well as the diversity of the investor base which reflects the attractiveness of the Dubai real estate market to global investors."
MENAFN1001201800450000ID1096331915
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