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FINANCIAL NEWS
Dubai- Real estate deals in 2012 up by 8%
23 Jan 2013
(MENAFN) Dubai Land Department’s (DLD) Director General, Sultan Butti bin Mejren, stated that property deals in the emirate in 2012 went up by 8 percent in value terms to USD41.91 billion, from USD38.92 billion in 2011, reported Emirates 24/7.
Mejren said that cash transactions represented more than 84 percent of the USD10.34 billion apartment deals, with 25,515 units valued at Dh32 billion.
Meanwhile, mortgage deals reached 4,300, with a value of USD1.36 billion.
On the other hand, 1,282 cash villa deals took place in the year, with a total value of USD816 million, whereas mortgage contracts were valued at USD544 million, with 621 units.
The value of land sales grew to USD30.21 billion, of which 5,413 were cash transactions valued at USD9.25 billion, and 3,204 were mortgage transactions valued at USD20.41 billion.
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