Samir Salya on the increasing demand across Dubai’s real estate sector

Property in Dubai is always an attractive real estate investment, but the intensity of demand is increasing, considerably over the past year. Its continuing growth is seeing numbers rise across all property categories, attracting a wide range of investors.

A wide range of property sectors

The total value of real estate transactions in Dubai for the first nine months of 2017 reached AED 204 billion (£42.3 billion), according to the Dubai Land Department (DLD).

There were 52,170 deals, with a total of 37,633 transactions for land, residential units and buildings generating over AED 88 billion. In addition, there were 11,699 mortgage transactions worth AED 102 billion and a further 2,838 transactions worth AED 14 billion.

Moreover, the DLD report highlights that the land category attracted investments worth AED 143.40 billion through 11,169 transactions across sales, mortgages and other transaction categories. This demonstrates a rising demand for new builds in Dubai.

Building sales continue to climb, generating AED 12.72 billion from 5,014 transactions. Residential units of all types accounted for AED48.77 billion from 36,000 transactions.

This really showcases the strength of the Dubai real estate market. The director general of Dubai Land Department, Sultan Butti bin Mejren, says: “The data clearly shows an increasing demand across all property categories, including land plots for various forms of real estate development, as well as buildings and residential units, which means that we are attracting a wide variety of investors.”

A Bright Future

While Bin Merjin did not include year on year figures, the market shows no signs of slowing, with  demand set to continue in the years to come.

Bin Mejren added: “We expect the market to remain on this upward trajectory of sustained growth, and to see demand continuing to diversify across various real estate categories. The momentum of the market is being driven and sustained by several factors but particularly the upcoming launch of Expo 2020 Dubai.”

Investment into the Dubai property market remains highly attractive and continues to lure investors from all over the world.

Key investment areas

The top ten real estate areas in Dubai were also noted by the DLD. In terms of value, Burj Khalifa came in first with 1,650 transactions worth AED6.24 billion. Business Bay was placed second, generating AED5.57 billion across 2,754 transactions. In third place, Dubai Matina had 2,596 totalling AED5.357 billion.

For mortgages, palm Jumeriah was noted as the best area for investment. Second and third place were once again Business Bay and Dubai Marina, respectively.

About Samir Salya

Samir Salya is the Chairman of Reign Holdings and is involved in real estate and construction within the UAE and UK. Samir holds over 20 years of experience in executive management, business expansion, performance improvement, sales and marketing.