Dubai bags DH 111 billion in real-estate deals in the first half of 2018
Based on recent quarterly calculations, Dubai‘s real-estate industry has been calculated to bag a profit of a whopping DH 111 billion in the first 6 months of the year 2018. Though a huge number in its own capacity, it is certainly a decline from the robust DH 132 billion same time last year when the same calculations were made for the first quarter of the year 2017.
According to the statistics presented by Dubai Land Department, UAE nationals, Indians, and Saudis have again taken up the top three spots as major committing investors accounting for a total of DH 6.8 billion, DH 5.9 billion, and DH 3.7 billion respectively. On an overall scale, a total of 27,642 deals were registered with the government entity out of which 18,191 deals accounted for sales of DH 40 million, 7,668 deals accounting for mortgage-based transactions for DH 56.7 billion, and a total of 1,783 other deals accounting for DH 13.4 billion.
Given these amazing statistics, the Dubai Land Department decided to up their real-estate game a notch by introducing a series of several different kinds of incentives aimed to ascend further demand. Some of these endeavors worth mentioning would be the 4% waiver on penalty of those failing to register their properties within 60 days, granting investors 10-year residency visas and reduction in government fees.
The most sought-after locations for investors in this respect were Business Bay (with 1,934 transactions accounting for nearly DH 4.2 billion) followed by Dubai Marina as the next best with (1,445 transactions accounting for nearly DH 2.9 billion) worth of investment. Given the quarterly report, GCC Nationals held the top spot with DH 11.6 billion-plus worth of investments in UAE’s local real-estate realm.
We, at dxboffplan.com, are, therefore positive that the next quarter of this year will bring about an even bigger number in terms of profit-yielding investments in the region.