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The Government of Dubai Land Department (LD) has revealed impressive statistics for the first quarter of 2013 that show a 63% growth in the total value of transactions made reaching Dhs44bn, with the number of transaction carried out totaling 14,260.
Sultan Bin Mejren, Director General of LD, commented: “The real estate investment market saw an impressive high in the first quarter, with number of transactions soaring in the residential and commercial sector.”
He pointed out that the number of transactions recorded by the LD amounted to 14,260 at a rate of 223 per day and 32 per hour. This is an important indicator of the solid growth and performance of the real estate market, which has the backing of government to increase confidence among a number of national, regional and international investors.
Bin Mejren went on to elaborate that the real estate market in Dubai has shown durability and flexibility when it comes to dealing with the requirements of investors, with the past three months showing a new breed of investor entering the market in order to capitalise on opportunities that have risen on the eve of price corrections witnessed in the market over the past two years. He further pointed out that the price index has shown an upward trend over the past few months as a result of increasing demand to purchase land, villas and apartments for distinguished projects in Dubai.