The past months leading up to the launch of the global event Expo 2020 Dubai witnessed an exceptional growth in general in real estate sales transactions in terms of volume and value. However, September 2021 recorded greater achievements, with recording the highest value of real estate sales in one month since December 2013 via 5,762 sales transaction worth over Dhs16.2 billion, bring the year-to-date total value to over Dhs100 billion.
This is according to the 19th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department (DLD) in cooperation with Property Finder.
The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012. In September 2021 the Overall monthly Index recorded 1.115 and an index price of Dhs1,065,816, Apartments monthly Index recorded 1.14 and an index price of Dhs954,524 and Villas/Townhouses monthly Index recorded 1.098 and an index price of Dhs1,940,843.
In Q3 2021 the Overall Quarterly Index recorded 1.128 and an index price of Dhs1,053,263, Apartments Quarterly Index recorded 1.134 and an index price of Dhs946,644 and Villas/Townhouses Quarterly Index recorded 1.124 and an index price of Dhs1,954,802.
Meanwhile, a leading real estate developer in the UAE, is organising a special sales day at the Sofitel Abu Dhabi Corniche, on Saturday (Oct.23).
The sales offer includes all the company's projects in Abu Dhabi and Dubai, giving a 10% discount, with only 10% down payment, and 1% monthly installments.
Islam Ahmed Suleiman, CEO of Reportage Properties, said that the company continues to give various offers, which suit large segments of customers, while organising many sales events, which is directly reflected in the continued growth in sales.
Islam Ahmed Suleiman.
Reportage Properties achieved sales of more than Dhs1 billion from the beginning of the year until the end of last August, compared to Dhs488m during the first eight months of 2020, with a growth rate of about 105%.
Reportage Properties is developing 12 projects in the UAE, providing about 6,000 housing units within the most important investment sites in Abu Dhabi and Dubai, in addition to a project that has been completed and delivered in Masdar City in Abu Dhabi.
Suleiman stressed that Reportage Properties is keen to continue work in all their projects as scheduled, in preparation for delivery according to the announced dates.
He noted that the real estate market in the UAE is showing remarkable activity these days, in sync with hosting the "Expo Dubai 2020," as well as the successive disclosure of many important initiatives and various project packages within the "50 projects," which contribute to accelerating the pace of recovery from the repercussions of the "Covid-19" pandemic.
The list of "Reportage Properties" projects in Abu Dhabi includes "Al Raha Lofts 1," which provides 164 housing units, and "Al Raha Lofts 2", which adds 110 housing units, within the Al Raha Beach area.
The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.
The real estate bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.
According to proprietary Property Finder demand data, the top areas of interest in terms of searches for villas/townhouses in January 2021 were Dubai Hills Estate, Arabian Ranches, Palm Jumeirah, Mohamed Bin Rashid City, and Damac Hills.
The real estate and properties transactions valued at Dhs6.8 billion in total during the week, according to Dubai Land Department. 330 plots were sold for Dhs1.65 billion, 1,653 apartments and villas were sold for Dhs3.42 billion.
The new and improved integrated digital tax service platform EmaraTax, set to be launched by the Federal Tax Authority (FTA) in a few days, will be a cornerstone of our efforts to shape the future of the UAE tax system,”
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