Dubai – Mubasher: Dubai Land Department (DLD) on Sunday unveiled the results of the Dubai real estate market during the first eight months of 2018, labeling this period as “encouraging” in terms of the timely completion of projects.
During the period between January and August, around 47 projects were introduced into the market after they were completed as scheduled, adding 14,000 different properties to the market, namely 10,000 apartments, 364 residential complexes, 2,258 townhouses, and 1,575 villas, according to the authority’s statement.
The market’s ability to grasp more investors who have invested heavily contributing to sustainable growth is considered one of the signs of the real estate market’s attractiveness, Dubai's state-run utility noted.
“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,” Sultan Butti bin Mejren, director general of DLD, commented.
Over the first eight months of 2018, around 1,000 investors received their properties through 900 transactions, with a total value of over AED 12 billion, showing Dubai's superiority, and its distinctive position as a preferred international investment destination, according to the statement.
Moreover, the results reflect the emirate's ability to enter into a profitable competition with other peers through its unique features, it added.
“The attractiveness of the market is based on a number of unique factors, especially the high guaranteed returns, the continuous rise in property values year after year, and the Emirate's ideal environment for living, working, and visiting, making it a high-level investment option,” bin Mejren added.