Dubaiís real estate sector records transactions worth Dh72.5 billion in H1 2020
26th July, 2020
Dubai: Dubaiís real estate market witnessed transactions worth Dh72.5 billion in the first half of 2020, despite the impact of the global COVID-19 outbreak, according to a report issued by the Dubai Land Department (DLD). The figures indicate that Dubaiís real estate sector is gradually returning to normal, driven by the stimulus packages and initiatives launched by the government and its departments in the past few months. EXCEEDED EXPECTATIONS: The report states that real estate transactions for the second quarter of 2020 exceeded Dh24.5 billion with 7,834 procedures, while 22,779 procedures were recorded during H1 2020, representing a total value of Dh72.5 billion. In terms of mortgage registration of lands, buildings, and units in Q2 2020, Hadaeq Sheikh Mohammed bin Rashid was placed first with 205 transactions worth Dh341 million, followed by Meíaisem First with 113 transactions worth Dh113 million, and Jabal Ali First with 107 transactions worth Dh156 million. The next seven positions were secured by Burj Khalifa, Al Yelayiss 2, Dubai Marina, Al Thanyah Fourth, Al Barsha South Fourth, Wadi Al Safa 7, and Al Thanyah Fifth respectively.