Dubai recorded AED 22.9 billion in real estate transactions last month

 

A total of 6,590 real estate transactions in Dubai were recorded in March 2021, valued at approximately AED 22.9 billion, according to the real estate bulletin published by the Dubai Land Department (DLD) under the name “Real Estate Updates.”

The bulletin revealed a 43% growth in the number and a 40% growth in value compared to March 2020. It also noted that March 2021 recorded the second-highest number of real estate transactions since February 2017.

The bulletin showed that real estate transactions in Q1 2021 recorded significant growth of 27% and 47% compared to Q1 2020 and Q1 2019, respectively.

The bulletin highlighted the real estate sector’s continued appeal to new investors, as 5,683 new investors entered the market in Q1 2021, representing 64% of the total number of investors in the same period. The aforementioned figures revealed the continuation of positive results in 2021, continuing to strengthen the confidence of local and international investors in Dubai’s attractive and dynamic real estate environment.

The value of real estate brokerage commissions earned by real estate brokers active in the real estate market reached AED 392 million in the first quarter of 2021, while 143374 Ejari contracts were registered in the first quarter of 2021, of which 57% were new contracts and 43% renewed.

The bulletin highlighted the top five areas of investor attractiveness. In villa sales, Hadaeq Sheikh Mohammed bin Rashid topped the list in Q1 2021, followed by Wadi Al Safa 5, Wadi Al Safa 7, Nad Al Sheba 1, and Al Thanyah Fourth. In apartment sales, Dubai Marina, Palm Jumeirah, Business Bay, Burj Khalifa, and Al Merkadh topped the list in Q1 2021.