Dubai saw the largest number of real estate transactions in 12 years
Published by: Admin
At AED 20.9B, Dubai real estate transactions reached a 12-year high in July (USD 5.7B).
At AED 20.9B, Dubai real estate transactions reached a 12-year high in July (USD 5.7B). Downtown Dubai, Jumeirah Village Circle (JVC), Dubai Marina, Palm Jumeirah, Business Bay, and Jumeirah Lake Towers were the most sought-after areas for real estate transactions (JLT).
According to the Scott Bond, Property Finder UAE Country Manager:
There were 7,092 real estate sales, up 63.6% from the previous year. Value-wise, July had an increase of 88.41%. The market performed well in July, shattering the market volume peak in 2013 and producing the largest year-over-year market value transactions.
Over 4,000 dwelling units, or 59% of the sales transactions in July, involved ready houses. The research also verified that there were approximately 3,000 sales for off-plan market properties, which accounted for 41% of total deals.
Additionally, DEWA collaborates with Dubai's Museum of the Future on a brand-new sustainability display. The collaboration will support Dubai's positioning as a leading city of the future, showcasing cutting-edge technology for future renewable energy and environmental sustainability.
According to DEWA's Managing Director and Chief Executive Officer, Saeed Mohammed Al Tayer:
The partnership has helped the museum become the first in the Middle East area to apply for the Platinum Rating in the LEED, which is the highest grade for green buildings globally.
Source: zawya.com