In Dubai for the first 8 months of year the volume of transactions with the real estate which has exceeded 158 billion dirhams has been recorded.
The land Department of Dubai (DLD) issued the report in which I counted amount of real estate transactions in the emirate for the first 8 months 2016. 38800 sales, mortgage and other transactions are estimated more than at 158 billion dirhams ($43 billion). At the same time about 15,5 thousand transactions by a total cost in 60,5 billion dirhams ($16,4 billion) took place in June, July and August.
Sultan Butti bin Merdzhen, the CEO of DLD, believes that the impressive number of real estate transactions in Dubai for the last months allows to judge a positive tendency in the domestic market.
"It occurs, despite the settled quiet market situation during summer months" — he declared — "Increase in activity in comparison with the same period of last year is noticeable that found reflection in key figures of our report."
46% of the total amount of transactions were the share of property sale (over 28 thousand transactions on more than $19 billion). Mortgages took the second place (8482 transactions for $18 billion).
Seeh Shuaib 1, Sheikh Mohammed Bin Rashed Gardens, Hebiya 3, Al Yafra 3 and Al Yafra 5 — 5 of the best areas from the point of view of land transactions. Thunaya 5, Hebiya 3, Wadi Al Safa 6, Wadi Al Safa 5 and Al Thunaya 4 are in the lead on a demand of mortgage transactions.
In Business Bay the maximum number of sales is fixed. The places following this area are taken by Dubai Marina, Burj Khalifa, Jabal Ali and Warsan 1. Dubai Marina, by the way, was the best choice for mortgage transactions.
"It is possible to find a set of signs in this report, in total testimonial of a positive tendency, that the market of Dubai is filled with the increasing potential from a number of the large infrastructure projects initiated by the government" — Ben Medzhren told.
"The most important factor promoting stability remain preparatory activities of a management of Dubai in partnership with the leading builders on implementation of a number of megaprojects which lay the foundation for the global concept which is the largest in own way in the world" — he added.
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