Dubai Sees Property Transactions Worth AED 154 Billion In 2012
Number of transactions grows by 8% to 41,767 transactions
Plots attracts AED 109 billion sale and mortgage transactions
AED 37 billion worth of sale and mortgage transactions on residential and commercial units
Bin Mejren: new positive phenomena in market contribute to growth
The Government of Dubai Land Department (LD) issued 2012 property transactions report. Dubai saw total of 41,767 transactions worth more than AED 154 billion last year. This includes sale, mortgage, ijarah, mortgage portfolios, deferred sale and other types of transactions.
Commenting on the results, HE Sultan Butti bin Mejren the Director General of LD said that 2012 was a record year in terms of transactions which increased by 8% compared to 2011. The size and type of transactions documented by the Department last year showed upward trend and sustained growth in the performance of the real estate market in the Emirate. This is achieved through the direct support from the local government which spares no effort in enhancing the attractiveness of the market by launching distinctive initiatives. These initiatives enhance trust and consolidate transparency and accelerate the maturity in the market transactions which leads to the grown of Dubai
Emirate: Dubai
Date: Jan 22, 2013
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