Abu Dhabi, Dubai registers AED59.2 billion UAE realty sales in Q1
UAE property market has witnessed nearly AED68.6 billion in transactions in the first three months of the year, in a fresh sign that the worst is over and smart recovery is accelerating thanks to increased spending on infrastructure development, and the recorded growth in trade and tourism sectors across the nation.
Statistics revealed by the departments concerned in Abu Dhabi, Dubai, Sharjah and Ajman reflect investor demand for property in the four emirates, with both Abu Dhabi and Dubai registering AED59.2 billion of realty deals in the reference period, accounting for 86 percent of the total transactions in the four emirates.
Dubai recorded AED47.7 billion in transactions during the January to April period in the first three months, a YoY growth of 47 percent, according to the statistics of the Department of Land and Property in Dubai, which added that a total of 5,800 investors conducted property deals from January through March.
In Abu Dhabi, AED11.5 billion deals were logged by the Department of Municipalities and Transport – Abu Dhabi City Municipality, which said that 3847 deals were conducted during the reference period.
