Dubai records 25,972 property deals in first quarter of 2022

A total of 20,539 sales transactions worth $15.11bn were conducted in three-month period

 

Dubai registered 25,972 property transactions in the first quarter of this year, the highest number of quarterly deals since 2010, said Mo’asher, the emirate’s official sales price index issued by the Dubai Land Department in partnership with Property Finder.

The January to March period recorded a total of 20,539 sales transactions worth Dh55.51 billion ($15.11bn).

“The data demonstrates Dubai’s real estate market[’s] significant growth and continuous upwards trend while it continues to provide vital insights and transparency into the Dubai real estate market,” DLD said on Tuesday.

Last month, there were 8,399 sales transactions involving Dubai property, worth Dh22.58bn — up 83 per cent and 109 per cent on an annualised basis, respectively.

The top areas searched for sale in the first quarter for apartments were Dubai Marina, Downtown Dubai, Palm Jumeirah, Business Bay and Jumeirah Village Circle, Property Finder data suggested.

The top areas searched for villas or town houses were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, Damac Hills (Akoya By Damac) and The Springs.

The property market in the UAE, the second-biggest Arab economy, has made a strong recovery from the pandemic-driven slowdown as the country’s economy improves on the back of fiscal and monetary measures.

Pent-up demand and improved investor sentiment have also helped to drive property sales, particularly in Dubai and Abu Dhabi, amid the pickup in economic activity. New initiatives, such as visas for expatriate retirees and the expansion of the 10-year golden visa scheme, are expected to support the local market, industry experts say.

More than 44,783 rental contracts were signed in Dubai last month, with 60.3 per cent new contracts and 39.72 per cent renewals.

The areas with the most rental transactions in March were Jabal Ali First (6,259 contracts), Al Warsan First (6,224), Business Bay (5,056), Naif (5,011) and Al Karama (5,007).

Shaikhani Group said, they're trying their best to extend the productivity of their projects so it'll fork over by the top of this year….

Dubai is one the simplest city to measure where everything is out there on the doorstep, this is often why Shaikhani Group invested their money, and that they do have different projects which are successfully in process. Shaikhani group tries to seek out the simplest deals with good luxuries therefore the customer can enjoy all the luxuries at full Shaikhani group already handover few projects in Dubai worth of many dirhams, they always achieve their target on time which shows the positive sign of their progress. Soon they're going to handover gardenia residency which is found in Jumeirah village circle, it's been expected they're going to handover this project by the top of 2022 or even earlier depends on the working conditions and environment

Mr Ahmed Shaikhani said we've provided our labour high-quality equipment to form sure work doesn't compromise and customers will get their apartments on time quite 1000 units handover within the projects of Cambridge business centre, champions tower 1 and Frankfurt sports tower which is worth of 700 million dirham approximately 600 units are to be completed soon within one year in Champions tower 3, Gardenia 1 and a couple of approximately value 300 Million dirham are going to be deliver