Real Estate sector is a key contributor to Dubai’s sustainable economic development
Dubai Land Department (DLD) recorded an unprecedented growth in the last ten days of 2018. Sultan Butti Bin Mejren, Director General of DLD, stressed that Dubai’s real estate market recorded a high-transaction volume during the last ten days of 2018 with a value of over AED 19bn (US$ 5.17bn) through 2,081 transactions.
Bin Mejren added: “These recorded transactions within a short time reflect renewed confidence in our real estate market, especially in light of Expo 2020 preparations,” said Bin Mejren.
The value comprised sales, mortgage, and other transactions that were concluded during the period from 17 to 30 December 2018.
Bin Mejren stressed DLD’s role in supporting the government’s directives through its transparent and flexible procedures. DLD recognises the importance of the real estate sector and its crucial role in diversifying income sources in GDP, as it represents a key polarising factor for investment, leading to comprehensive and sustainable development of the UAE national economy.
