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FINANCIAL NEWS
Dubai’s real estate transactions up 20% in Q1
11 May 2011
(MENAFN) Dubai’s Real Estate Regulatory Authority’s (Rera) CEO, Marwan Bin Ghlaita, said that the real estate sector in the emirate is on the right track of recovering as the value of property transactions went up by twenty percent in 2011’s first quarter, quarter on quarter, reported Emirates 24/7.
Bin Ghlaita said that total value of transactions in Dubai in the first quarter amounted to USD8.2 billion reached via 10,554 transactions.
Bin Ghlaita said that top investors in Dubai’s real estate remain Indian, Pakistani and English. He noted that prices are becoming fair towards properties’ real value.
Bin Ghlaita noted that main areas of attraction were in Wadi Al Safa 5 while the highest value was on the Palm Jumeirah.
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