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Dubai: Real estate transactions in Dubai for the first three months totalled Dh54.78 billion brought on by 12,568 deals. In a marketplace that is yet to fully recover from an extended period of lukewarm buying in the second part of last year, the latest numbers indicate a relative measure of stability. In the first quarter of 2015, there were Dh64 billion worth of deals registered with the Land Department.
Dubai Marina had the highest number of unit deals during the first three months within the freehold areas, followed by Burj Khalifa and Business Bay. When mortgages are accounted for, Dubai Marina still has top spot, followed by “Muaisem 1” and “Business Bay”.
The sum of real estate investment related transactions during the first quarter of 2016 was Dh25 billion with 11,353 investors from 127 nationalities committing to Dubai’s property sector.
Gulf nationals (totalling 3,476 investors) contributed Dh9 billion, which includes Emirati investments valued at Dh6.1 billion. Citizens of Saudi Arabia came in at second place with Dh1.8 billion. Arab investors from outside the Gulf pumped in more than Dh3 billion, with 1,486 individuals of 16 nationalities committing.
Foreign investment as a whole amounted to more than Dh12 billion, with 105 nationalities in the ranks of 6,391 investors.
Source: Staff Report, gulfnews.com