Dubai property deals surged by 38 per cent to top Dh61 billion in the first quarter, the National reported.
The Land Department yesterday announced that the number of transactions for the quarter grew to 15,694, an 11 per cent increase on the first quarter of 2013.
The growth in the number of transactions and their value is only set to increase during the rest of the year, according to Sultan Butti Bin Mejren, the Land Department’s director general.
“The results of the first quarter 2014 reflect the renewed investor confidence in Dubai and specifically in the city’s real estate sector, which is considered an integral component of the national economy,” said Mr Bin Mejren.
“We expect the next three quarters to be similarly as active, especially as this period follows the launch of a number of stimulating economic projects in Dubai and the disclosure of some of the preparations for the city’s hosting of Expo 2020.”
Asteco last week reported that sale prices for homes in Dubai rose significantly over the quarter, with apartment prices up by 3 per cent and villa prices up 6 per cent compared with the final three months of 2013.
The Land Department yesterday announced that the number of transactions for the quarter grew to 15,694, an 11 per cent increase on the first quarter of 2013.
The growth in the number of transactions and their value is only set to increase during the rest of the year, according to Sultan Butti Bin Mejren, the Land Department’s director general.
“The results of the first quarter 2014 reflect the renewed investor confidence in Dubai and specifically in the city’s real estate sector, which is considered an integral component of the national economy,” said Mr Bin Mejren.
“We expect the next three quarters to be similarly as active, especially as this period follows the launch of a number of stimulating economic projects in Dubai and the disclosure of some of the preparations for the city’s hosting of Expo 2020.”
Asteco last week reported that sale prices for homes in Dubai rose significantly over the quarter, with apartment prices up by 3 per cent and villa prices up 6 per cent compared with the final three months of 2013.
Source:
Mubasher
