Dubai Land Department (DLD) has released its H1 2017 Transactions Report up until 30^th June, through the Real Estate Research and Studies Department, revealing that real estate transactions for this period recorded 35,571 sales, mortgages and other transactions – reaching a value of AED 132 billion.

The report reveals that the total value increased by 16.8% from a total of 7,320 transactions – an increase of 25.91% compared to the same period last year.

The report also confirms that the Dubai real estate market generated a total of 25,864 sales transactions worth over AED 63 billion and 7,893 mortgage transactions worth AED 60 billion, while 1,814 other types of transaction brought in AED 9 billion. 

Providing an breakdown of the value generated by different types of property, the report shows that the land category represented AED 91 billion from approximately 8,000 transactions, while building sales saw 3,887 transactions with a total value of AED 10 billion and unit sales crossed the AED 31 billion mark from 24 transactions. 

View over Dubai -  Image Source Roman Logov

Commenting on the results, His Excellency Sultan Butti bin Mejren – Director General of DLD – said, "Our report for the first half of this year bears promising results for professionals in the real estate sector, as despite global economic pressures, Dubai has once again reaffirmed its leadership of regional markets and driven renewed growth in the region." 

Bin Mejren added, "Establishing strong foundations for the sustainable growth of our real estate sector has been largely focused on preserving the rights of all investors and providing a secure environment where their transactions can take place in a transparent matter. This has allowed the sector to grow by increasing investor confidence and heightening the appeal of Dubai's property market." 

Emirati investors take the lead 

Emirati investors ranked first for both number and value of transactions, completing 4,510 transactions worth AED 15 billion, followed by Saudi nationals in second place with a total of 1,936 transactions worth AED 4 billion. The total value generated by GCC investors increased by 16% compared to the same period last year, with 7,665 transactions worth AED 21.7 billion. 

Areas in High Demand 

The report also highlights the top areas in Dubai for both number and value of transactions.

Top 5 Number of Transactions

1) Dubai Marina: 2,529 transactions 

2) Business Bay: 2,146 transactions

3) Al Barsha South 4: 2,001 transactions

4) Jebel Ali 1: 1,931 transactions

5) Al Thaniya 5: 1,501 transactions

Dubai Marina recorded 2,529 transaction in H1 2017 - Image Source Emaar Properties

Top 5 in terms of Value

1) Palm Jumeirah: AED 9.5 billion

2) Business Bay: AED 6.5 billion 

3) Burj Khalifa: AED 5.8 billion  

3) Dubai Marina: AED 5.8 billion 

5) Al Wasl area:  AED 5.6 billion 

The Palm Jumeirah recorded AED 9.5 billion in transactions in 1H 2017 - Image Source West Gate Real Estate

The report provides further details about the total number of investments made in Dubai's real estate market during the first half of 2017, including investments by foreign nationals and investments by women. To see the full report, visit the Dubai Land Department website.

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