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.
Emirates NBD has reported that contactless payments now make up 84 per cent of all face-to-face card payment transactions, as consumers and merchants have increasingly preferred to use touch-free technologies to stay safe.
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.
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – announced on Saturday the launch of its latest discount campaign to encourage international diamond companies to set up operations in Dubai.
As data becomes increasingly indispensable for building smart cities and supporting the decision-making process, Smart Dubai has launched “Data First, The City’s Data Challenge”, a six-month-long challenge that brings together Smart Dubai’s
DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has unveiled prototypes of a new series of gold and silver bullion coins that celebrate the achievements of the UAE over the last 50 years. The coins will be made available for purchase after Ramadan. Announced at the 2022 edition of the Dubai
The European Central Bank is watching for signs of stress in the bank sector from the ongoing financial turmoil but a full-blown crisis is unlikely for now, the ECB’s top brass said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates to fight inflation given turmoil in the banking sector that has seen two US lenders go
The Sharjah Chamber of Commerce and Industry (SCCI) has organised an introductory meeting for the Sectoral Business Groups, following the reformation of five groups that operate under its umbrella. The meeting sought to bolster communication within the emirate’s private sector and identify challenges and opportunities for development in order
Inspired by UAE’s announcement of 2023 as the “Year of Sustainability”, Almoe Group of Companies and Brother Middle East & Africa held a tree-planting drive in conjunction with GEMS Education and Tadweer Waste Management, rallying students to emerge as key stakeholders in environmental conservation. The impact-driven initiative saw over 400