DUBAI: The Dubai Land Department (DLD) recently revealed the annual results of the Dubai real estate market for 2017, with the total real estate transactions exceeding Dhs285 billion through 69,000 real estate transactions.

Commenting on DLD’s Annual Transactions Report, which summarises the market activity over the past year, Sultan Butti Bin Mejren, Director General of DLD, said: “The figures disclosed in the report for total transactions including sales, mortgages and others, confirm the current strength of the Dubai real estate market, in particular when compared against the past two years - 2015 and 2016.”

Bin Mejren added: “The 2017 report sends reassuring messages of renewed cycles of growth in the coming years, especially when we take into account the modern-day infrastructure that exists in Dubai. The numbers and figures contained in the report confirm the strength of the Dubai real estate market and its ability to grow from year to year. Among the positive signs of the report is the lead UAE nationals have in investments, as well as the diversity of the investor base which reflects the attractiveness of the Dubai real estate market to global investors.”

The report states that the real estate transactions for 2017 have increased by 6 per cent in terms of number, and 4 per cent in value when compared to Dhs275.8 billion for 2015, and increased by 14 per cent in number, and 6 per cent in value compared to Dhs268.7 billion for 2016.

Bin Mejren added: “Looking at the details of the results from 2017, the sales of land, buildings and units in the Dubai real estate market totaled Dhs114 billion through 49,000 transactions, while mortgages for the same three categories reached Dhs138.5 billion through 15,700 transactions. There were approximately 4,000 other transactions valued at approximately Dhs33.3 billion, where the total turnover for the year 2017 was Dhs285.562 billion from 69,000 transactions.”

Turnout from global investors

For 2017, Dubai’s real estate market has attracted investors from around the world, including Gulf nationals, Arabs and foreigners, with a total of 39,480 investors making nearly 53,000 transactions worth more than Dhs107 billion.

According to the same report, over 9,790 Gulf nationals made 14,381 transactions worth more than Dhs37 billion. The Dubai real estate market attracted nearly 7,000 Arab investors who closed 8,644 real estate transactions worth over Dhs14 billion. There was also a high level activity among foreign investors, with nearly 23,000 investors making approximately 30,000 transactions worth approximately Dhs56 billion throughout 2017.

Meanwhile, the contribution of women to real estate investment is growing, with their trust in the Dubai real estate market reflected by 11,773 women entering the market and making a total of 14,316 transactions worth over Dhs27 billion.

List of Top Nationalities Investing

The UAE investor continued to lead the list of nationalities investing in the Dubai real estate market, where the value of their investments amounted to Dhs25.307 billion.