Dubai-Mubasher: The real estate transactions recorded in Dubai during the first quarter of 2015 exceeded AED 64 billion, through 11,603 transactions. The sum of real estate investment transactions exceeded AED 24 billion, through 8650 investors, said Dubai Land Department's annual report issued by Real Estate Research and Studies Department.

The value of transactions increased by AED 3 billion, which is a proof of sustainable growth, the report said.

A total of 8,000 selling transactions were executed at a total value of AED 24 billion, while the mortgages accounted more than AED 37 billion from 3,000 transactions, leaving all remaining operations at only 546 transactions at a total value of AED 2 billion.

"The department is always keen on issuing the quarterly results of real estate transactions in Dubai for transparency that will help investors and customers in making decisions based on strong foundations," said Sultan Butti Bin Mejren, director general of Dubai Land Department.

The figures in this report show a well-established trust in Dubai's real estate market, as well as full preparations and readiness with for quantum leaps in the next few years to receive the Expo 2020.

Looking at the transactions, sales and mortgages relating to land transactions recorded more than AED 52 billion from the total real estate figure for Q1-15, with a total of 3,919 transactions. The commercial lands (already built on) acquired the lion share in terms of value for the type of land with 57% in total, amounting AED 30 billion.