These areas top the list of the most attractive real estate investments in Dubai
The annual report on the performance of the real estate sector 2020, recently released by the Dubai Land Department, revealed. For the most sought-after and investment places in the emirate.
Dubai Marina occupied the first place in terms of the number of real estate investments during 2019. With 3,920 real estate investments.
It is followed by Business Bay with 3,508 investments. Then the first Khiran area with 3,142 investments. It is followed by the Sheikh Mohammed bin Rashid Gardens District, with 2,833 investments. Then the Burj Khalifa area, with 2,721 investments.
The Land Department indicated that the number of real estate investors in 2019 reached more than 34 thousand real estate investors, with a growth rate of 14%. Compared to the number of investors during 2018, which amounted to 29,846 real estate investors.
Investors from the Republic of India were the largest number. In terms of the number of investors in the real estate sector during the year 2019. The number of investors from the Republic of India reached 5,246 real estate investors. They are followed by the UAE investors with 5,172 real estate investors. They are followed by a large margin by investors from Saudi Arabia. The investors from the People's Republic of China and the United Kingdom numbered 2,198, 2,096 and 2,088 real estate investors, respectively. And comes in the second five places in Pakistan, Egypt, Jordan, the United States and Canada.
The value of real estate transactions amounted to approximately 226 billion dirhams in 2019, compared to a value of 221 billion dirhams in 2018, a growth rate of 2.1%. This improvement in the value of real estate transactions is due to the remarkable growth in the value of both sales and mortgages. The value of real estate sales amounted to 81 billion dirhams in 2019 compared to 77 billion in 2018, with a growth rate of approximately 5%, and the value of mortgages reached 125 billion dirhams in 2019 compared to 120 billion dirhams in 2018, a growth rate of approximately 4%.
In addition, the number of real estate investments during 2019 amounted to more than 47 thousand investments, with a growth rate of 18%. Compared to the number of real estate investments in 2018, which generated 40,000 real estate investments. The number of real estate investors also witnessed a remarkable growth during 2019 compared to previous years.
