Picture used for illustrative purpose only.

Gulf Today, Staff Reporter

The real estate sector in the Emirate of Dubai continued to confirm its position as a mainstay for growth for all sectors and economic activities in Dubai. This is thanks to the results that the sector has succeeded in achieving during the year 2021, due to many factors, foremost of which are the wise directives of the rational leadership, and the economic stimulus packages provided by the Dubai government, in addition to the holding of the global event “Expo 2020 Dubai”, in addition to the flexibility and attractiveness of the sector, and confidence. And the transparency that it guarantees to investors and the various categories of dealers.

The Dubai Marina area saw the highest number of transactions, with 7,968 transactions, followed by Business Bay (5,687), Al Thanyah Fifth (5,092), Al Barsha South Fourth (4,813), Hadaeq Sheikh Mohammed bin Rashid (4,352), Burj Khalifa (4,279), Wadi Al Safa 5 (3,536), Al Hebiah Fourth (3,261), Al Merkadh (3,150), and Palm Jumeirah (2,803).

Dubai Marina also saw the highest value of transactions with over Dhs28.6 billion, followed by Palm Jumeirah (Dhs 26.6 billion), Hadaeq Sheikh Mohammed bin Rashid (Dhs15.8 billion), Burj Khalifa (Dhs14.2 billion), Business Bay (Dhs13.19 billion), Al Thanyah Fifth (Dhs8.19 billion). Wadi Al Safa 5 (Dhs8 billion), Al Yufrah 1 (Dhs7.3 billion), Al Thanyah Fourth (Dhs7.2 billion), and Al Hebiah Fourth (Dhs7.19 billion).

The highest number of real estate mortgages were also recorded in the Dubai Marina area (1,440), followed by Hadaeq Sheikh Mohammed bin Rashid (1,046), Al Thanyah Fifth (1,015), Burj Khalifa (922), Al Barsha South Fourth (875), Nad Al Sheba 3 (864), Al Yelayiss 2 (717), Al Thanyah Fourth (675), Me’aisem First (655), and Palm Jumeirah (618).

Palm Jumeirah and Dubai Marina topped the list of areas in terms of the value of mortgages with over Dhs10.39 billion and Dhs10 billion respectively, followed by Al Yufrah 1 (Dhs6.49 billion), Warsan 2 (Dhs4.7 billion), Business Bay (Dhs4.55 billion), Al Barsha South Fourth (Dhs3.4 billion), Burj Khalifa (Dhs3.4 billion), Al Wasl (Dhs3 billion), Al Thanyah Fifth (Dhs2.9 billion), and Al Thanyah Fourth (Dhs2.6 billion).

The mortgage data reflects the confidence of Dubai’s national and foreign banking sector in the emirate's real estate market, which contributes to the availability of liquidity and cash flows as well as financing solutions offered by banks to encourage investment in Dubai's real estate sector.