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REAL ESTATE<br />
THE STATE<br />
OF AFFAIRS<br />
A look into how the real estate market fared last year and what to expect this year<br />
By Meryl D’souza<br />
2017 proved to be a pretty good year for Dubai’s real estate<br />
market. The sector picked up at a time when average prices<br />
across the emirate – and the world – continued to decline.<br />
According to the 2017 Annual Transactions report released<br />
by the Dubai Land Department (DLD), Dubai’s real estate<br />
market saw 69,000 transactions completed during 2017 with<br />
overall transactions valued at a whopping Dhs285 billion<br />
($78 billion).<br />
The figures reported in the DLD report were up by 14 per<br />
cent in number, and six per cent in value compared to Dhs269<br />
billion for 2016. According to the report, Dubai’s real estate<br />
market attracted investors from around the world, including<br />
Gulf nationals, Arabs and foreigners, with a total of 39,480<br />
investors making nearly 53,000 transactions worth more than<br />
Dhs107 billion. UAE nationals made up the single biggest buyer<br />
demographic with investments that amounted to Dhs25.30<br />
billion. Indian investors took second place with investments<br />
worth Dhs15.6 billion. Saudis made with investments in excess<br />
of Dhs7 billion, followed by British and Pakistanis whose<br />
investments amounted to Dhs6 and Dhs5 billion, respectively.<br />
67<br />
EQUITY
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