Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Real estate deals in Dubai hit Dh113 billion  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Ga projects and investor confidence behind strong transaction volumes The launch of mega projects and renewed investor confidence have boosted real estate transactions in Dubai to Dh113 billion for the first half of the year the Dubai Land Department (DLD) revealed on Wednesday.

Sales accounted for 54 per cent of the total transactions for January to June period numbering 22096 deals worth Dh61.5 billion. The combined number of all transactions for Q1 and Q2 was 30380 according to DLD’s Real Estate Research and Studies Department report. “The Dubai Real Estate market has become the focus of attention for an increasing number of investors from around the world. This interest can be attributed to several reasons most importantly the renewed confidence in the Dubai market after the city’s winning bid to host World Expo 2020” said Sultan Butti bin Mejren director-general DLD. The real estate market in Dubai was able to regenerate and offer a variety of products to attract investors said Bin Mejren adding: “We believe that Dubai can sustain this level of attraction and build on the momentum that is developing from the increased demand.”

Jones Lang LaSalle head of research for Mena Craig Plumb told Khaleej Times: “The strong sales activity seen during the first half of 2014 demonstrates the continued attraction of the Dubai real estate market as the emirate continues to benefit from its status as a safe haven for local and regional investors.”

Mortgages comprised 42 per cent of DLD’s dealings for the first half of the year with a total of 6922 mortgage transactions worth Dh47.3 billion being conducted. The number of other property transactions was recorded at 1389 with a total value of more than Dh4.6 billion. DLD reported Dh61 billion transactions for the first quarter of the year.


Bin Mejren said: “The growth in the volume of property investments is down to the wise economic policy pursued by the Government of Dubai over the past months and years. This policy has included the launch of mega projects such as the recently announced Mall of the World which have been designed to keep Dubai’s real estate market ahead of the global competition. These projects have been launched alongside initiatives that encourage investment and new laws and legislation that ensure a healthy pace of market growth.”

Sales relating to land transactions accounted for the lion’s share of real estate transactions for the first half of 2014 with the Dh35 billion figure representing 5516 deals. Sales relating to units totalled Dh24.7 billion for 15997 transactions. Buildings transactions held the third place sales position with a figure of Dh1.8 billion with the combined total for all three categories being Dh61.5 billion.

“Of particular interest is the high level of land sales achieved over the first half of 2014. This demonstrates that developers are once again seeking to increase their land banks. Developers are also now required to demonstrate 100 per cent ownership of the land before they launch any new projects” Plumb explained.

An analysis of Dubai’s top investment areas over the first half of the year has revealed that Al Hibiya 3 occupied first position for land sales with a total of 938 transactions worth Dh3.09 billion. This district was followed by Al Barsha South 4 Al Thenaya Al Khamesa Wadi Al Safa 5 and Jebel Ali 1. Dubai Marina took first place in apartment sales with the value of transactions in this prime area equating to Dh5.87 billion for 2576 transactions.

— abdulbasitkhaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 May 4 2016 - Kuwait- Al-Ghanim receives head of Palestine cmte at Jordan's Parl'tKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- National Assembly Speaker Marzouq Ali Al-Ghanim on Wednesday received in his office visiting head of the Palestine Committee at the ...

 May 4 2016 - Kuwait- Sheikha Fariha urges care for Arab women refugeesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) CAIRO May 4 (KUNA) -- It is crucial that maximum care and attention be given to refugee and displaced women and children caught up in wartime conditions in the ...

 May 4 2016 - Kuwait- Yemeni stakeholders conclude 1st session of direct talksKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- Yemeni parties involved in Kuwait consultations on Wednesday concluded their first session of face-to-face talks. The session was ...

 May 4 2016 - Kuwait- Info. Min. to embark on landmark visit to Ramallah Sat.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah is set to commence a ...

 May 4 2016 - Jordan- Royal decree approves constitutional amendmentsJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- A royal decree was issued on Wednesday approving the constitutional amendments in line with Article (31) of the Constitution and as referred from ...

 May 4 2016 - UAE's Etihad Airways : 31 injured by severe turbulence in AsiaJordan News Agency
(MENAFN - Jordan News Agency) Abu Dhabi May 4 (Petra) -- The United Arab Emirates' national Etihad Airways Wednesday said that several passengers were injured when one of its flights encountered ...

 May 4 2016 - Jordan- 75m children in desperate need of education support : UnicefJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Around 75 million school-age children in crisis areas around the world are in dire need of educational support the BBC said citing a new report by ...

 May 4 2016 - Davutoglu says Turkey ready to send ground troops to Syria if necessaryJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Turkish Prime Minister Ahmet Davutoglu Wednesday said that Ankara was in a position to send ground troops to Syria "if necessary". ...

 May 4 2016 - The Women in Parliaments Global Forum kicks off in AmmanJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra)--Deputizing for His Majesty King Abdullah II Senate President Faisal Al Fayez on Wednesday opened the Women in Parliaments Global Forum (WIP) which ...

 May 4 2016 - International conference of Internal Medicine kicks ofJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Under the Patronage of Her Royal Highness Princess Basma Bint Talal the 13th International Conference of Internal Medicine started late Tuesday . ...

 May 4 2016 - Jordan received attractive Gulf investment offers : JIC PresidentJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Jordan Investment Commission President (JIC) Thabet Al Wir Wednesday said the commission has received lucrative offers to invest in Jordan from ...

 May 4 2016 - Hundreds of Jewish settlers storm West Bank villageJordan News Agency
(MENAFN - Jordan News Agency) Ramallah May 4 (Petra) -- Hundreds of Jewish settlers on Wednesday rampaged through a Palestinian village in the occupied West Bank a Palestinian source said. Ghassan ...

 May 4 2016 - Jordan- Al Fayez meets US House of Representative delegationJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) --Minister of Tourism and Antiquities Nayef Al Fayez met on Wednesday with a delegation of US congressional aides and briefed them on Jordan's ...

 May 4 2016 - Jordan- Agadir Agreement 's partnership meeting held in TunisiaJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra)-- A number of businessmen from Jordan Egypt Morocco and Tunisia took part at the Agadir Agreement 's partnership meeting recently held in Tunisia to ...

 May 4 2016 - Maximum temperature to cross 40 degree celsius in QatarThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Wednesday inshore will be hot during the day with slight dust to blowing dust at places by midday while offshore it ...

 May 4 2016 - UAE- Sheikha Lubna commends National Policy for ReadingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Sheikha Lubna bint Khalid Al Qasimi Minister of State for Tolerance and President of Zayed University has praised the ...

 May 4 2016 - Qatar adopts NATO Individual Partnership and Cooperation ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 4th May 2016 (WAM) -- The State of Qatar has approved the Individual Partnership and Cooperation Programme with NATO and handed over the agreement ...

 May 4 2016 - UAE- Humanitarian policies should precede any political decisions says Ruler of SharjahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUALA LUMPUR 4th May 2016 (WAM) -- H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah has emphasised the importance ...

 May 4 2016 - Abu Dhabi Airports awards FB contracts for Midfield Terminal Building to four global retailersEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Abu Dhabi Airports announced today that Emirates Leisure Retail ELR HMSHost International Lagardere Capital and SSP four ...

 May 4 2016 - Emir of Kuwait receives UAE AmbassadorEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT 4th May 2016 (WAM) -- Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Emir of Kuwait has received Rahma Hussein Al Zaabi the UAE Ambassador to Kuwait. ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help