The Dubai Land Department revealed that the real estate sector in Dubai has maintained an upward growth trajectory since the beginning of this year, highlighting the sector's resilience and attractiveness. This reflects the positive impact of the leadership's decisions and directives in recent times, which have contributed to strengthening the confidence of investors and stakeholders in the sector, supporting its alignment with the new normal, and reinforcing Dubai's global status as a leading investment destination.
According to figures and data released by "Dubai Lands," the total number of real estate transactions registered in the emirate from the beginning of 2021 until the end of April amounted to 25,445 transactions, valued at 92 billion dirhams. Meanwhile, the number of new investors since the beginning of 2021 until the end of April reached 8,749 new investors.
Details from the "Real Estate Sciences" report issued by the Dubai Land Department showed the robustness of the real estate sector and its ability to adapt to various circumstances and developments; with the number of real estate transactions recorded from the beginning of 2021 to the end of April reaching 25,445 transactions, with a total value of 92 billion dirhams, marking a 51% increase in transaction numbers and a 72% increase in value compared to the same period in 2020. "Dubai Lands" confirmed that the real estate sector is expected to witness increased growth and greater recovery in the upcoming period, following the approval by the Supreme Committee of Crisis and Disaster Management in Dubai to submit electronic permit applications for various business activities, and with the approaching launch of "Expo 2020 Dubai," which will attract tourists and visitors from around the world, creating a significant opportunity for the real estate sector to enhance its regional and global position.
The report also indicated that the real estate sector continues to attract more real estate investors, thanks to its strong infrastructure and attractive investment opportunities, with the number of new investors since the beginning of 2021 until the end of April reaching 8,749. These new investors represent 65% of the total number of registered real estate investors during that period, showing a 54% growth compared to the same period in 2020.
Moreover, the report indicated that the total value of real estate investments during the mentioned period reached 36 billion dirhams, achieving a 44% increase compared to the same period in 2020, confirming the continued influx of real estate investments since the beginning of the year at a high pace, and further enhancing the confidence of both local and global investors. The number of contracts registered from the beginning of 2021 to the end of April reached 187,949 contracts, with new lease contracts accounting for 58% of them, while renewed contracts represented 42% of the total contracts registered during the specified period.
The "Real Estate Sciences" report highlighted the top five areas in terms of sales value for apartments and villas. "Mohammed bin Rashid Gardens" topped the list for villas in April 2021, followed by areas such as "Palm Jumeirah," "Wadi Safa 5," "Wadi Safa 7," and "Al Yalayes 2." For apartments, the leading areas in April 2021 were "Dubai Marina," "Burj Khalifa," "Palm Jumeirah," "Business Bay," and "Al Thanyah Fifth," in that order.
