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Dubai property deals rise 84% by February-end

06 Mar 2012

(MENAFN) Data from Dubai Land Department (DLD) found that property deals rose 33 percent, in the first two months of 2012, boosted by USD96 million in sales in January, Arabian Business reported.

The official data showed that total transactions during January-February period rose 84 percent, reflecting 448 deals, compared to a year earlier.

Overall volume in the period rose 33 percent to USD1.006 billion, while values lagged behind.

Sales volumes in January rose 94 percent year-on-year, while total value dropped by 0.9 percent. Deals were focused on Marsa district with sales hiting USD96 million.

In February, volume rose 73 percent, while value jumped by 167 percent compared to a year earlier. The most popular district was Al Barsha, where there was 28 sales registered in the month.

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