Dubai’s value of property deals hit USD59.33b in 2014
14 Jan 2015
(MENAFN) According to Dubai Land Department’s (DLD) annual report issued by Real Estate Research and Studies Department, the total amount of real estate transactions recorded in Dubai has reached USD59.33 billion through 53.871 transactions, Emirates 24/7 reported.
“The real estate market has shown a clear ability to gain momentum from year to year, in addition to maintaining sustainable growth, as well as the trend towards maturity. This would help DLD in achieving Dubai’s mission to be a global real estate leader in attracting investments,” Director General of DLD said.
The report also revealed that the sales accounted at 51 percent of the total value of transactions, while the share mortgages accounted 44 percent, leaving all remaining operations at only 5 percent.
Meanwhile, the total number of transactions in term of sales reached 38.113 transactions, with the value exceeding USD30.48 billion, while recording 12.511 mortgage transaction exceeding USD26.40 billion and the remaining operations accounted 3.227 transactions with a total value of USD2.72 billion.