The Dubai property market has witnessed a significant boost this week, with transactions worth AED 15.45 billion recorded, according to the latest data from the Dubai Land Department (DLD).
Developers in the UAE are known for offering attractive payment plans that greatly reduce the initial financial burden on investors. This, coupled with the emirate’s business-friendly environment, has contributed to the growth of the real estate market.
Among the notable transactions this week was a property sale in Al Barari worth AED 5.2 million, a hotel apartment in Al Furjan worth AED 1.4 million, and a house in Palm Deira worth AED 3.2 million.
This surge in transactions is a testament to the growing confidence in Dubai’s real estate market. The emirate’s rental market saw strong activity in the first quarter of this year, with a 35.8% increase in rental registrations compared to the same period last year.
The recent report by CBRE also highlighted the growth in office rents in both Dubai and Abu Dhabi in the first quarter of this year.
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