Dubai’s resilient real estate sector continued to witness a steady surge in investments by recording 5,359 deals worth over Dh11 billion in May.
While 11,387 new investors entered the market comprising 66 per cent of total registered investors since the beginning of the year, 6,021 real estate transactions worth Dh21.8 billion were registered in May, an increase of 197 per cent and a surge in value of 221 per cent compared to May 2020, according to the real estate bulletin issued by the Dubai Land Department (DLD).
The bullish data once again underscores Dubai’s attractiveness as a preferred global real estate investment destination and the emirate’s “flexibility in adapting to various developments, thanks to the legislative environment and superb infrastructure”, the DLD’s Real Estate Updates noted.
Since the beginning of the year, Dubai has recorded Dh36 billion worth of real estate investments, an increase of 44 per cent.
The bulletin showed that the value of real estate brokerage achieved by effective real estate brokers in Dubai’s real estate reached Dh827 million since the beginning of the year. In addition, 253,959 Ejari contracts were recorded in January to May, 53 per cent of which were new and 42 per cent were renewed.