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UAE real estate sales reach $18.6 bn from Dubai and Abu Dhabi

It denotes that the sector’s hardship has come to an end and is growing rapidly

The real estate market of UAE has reached nearly Dh68.6 billion in transactions from Dubai and Abu Dhabi in the first quarter of 2021, according to the media. The number signifies that the sector’s hardship has come to an end and is accelerating towards growth. Factors contributing to the achievement are increased spending on infrastructure development and recorded growth in trade and tourism sectors across the region.

Statistics revealed by the departments concerned in Abu Dhabi, Dubai, Sharjah and Ajman reflect investor demand for property in the four emirates. Abu Dhabi and Dubai registered Dh59.2 billion of realty deals in the first three months of the year. It accounted for 86 per cent of the total transactions in the four emirates.

According to the Department of Land and Property statistics in Dubai, from January to April, Dubai had recorded Dh47.7 billion in realty transactions, a year-on-year growth of 47 percent. A total of 5,800 investors conducted property transactions from January through March.

While in Abu Dhabi, Dh11.5 billion deals were registered by the Department of Municipalities and Transport – Abu Dhabi City Municipality. It stated that 3847 deals were conducted during the reference period.

The figures from the Emirate’s Real Estate Registration Department stated that in Sharjah, Dh6.7 billion of property deals were done during the first quarter. It is a growth of 84.9 percent over the same period last year through a total of 20,448 transactions. The Emirate’s Department of Land and Real Estate Regulation added that in Ajman, Dh2.7 billion worth of deals were conducted. It projected that the realty market is about to further grow in the coming months.

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