Dubai sets new record for volume of real estate transactions

Tuesday, 24 December 2019 13:43

Dubai has set a new record for the volume of real estate transactions over a 12-month period.

According to data from Property Finder, a total of 44,590 transactions were recorded in the emirate between November 2018 and November 2019.

It's the highest ever since sales transaction data was made publicly available.

The report also indicates that overall volumes in 2019 could reach a 10-year high once the figures for December are out.

As many as 36,799 residential units have been sold in Dubai from January until November 30 this year.

The positive trend is further evidence of improving momentum in the emirate's real estate market ahead of Expo 2020.

More from Business

UAE to develop a defence industrial free zone in Abu Dhabi

Al Selmiyyah, a suburb in Abu Dhabi, will turn into a zone that will be dedicated to advancing defence manufacturing in the UAE.
Apple settles lawsuit over late Siri AI features for $250 million

Apple has settled for $250 million on Tuesday in a shareholder lawsuit brought after the company delayed artificial-intelligence upgrades to its Siri voice assistant.
UAE plans to establish global defence manufacturing hub

The UAE is planning to establish a global defence manufacturing hub in partnership with South Korea’s LIG Defense and Aerospace.
UAE signs contract to purchase C-390 Millennium aircraft for air force

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, has witnessed the signing of a contract to purchase C-390 Millennium aircraft for the UAE air force.
'Make it in the Emirates' sees strong local, international turnout

His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, attended the opening of the fifth edition of 'Make it in the Emirates' on Monday.

UAE President marks Armed Forces unification anniversary with message of strength, unity
In a statement marking the 50th anniversary of the unification of the UAE Armed Forces, President His Highness Sheikh Mohamed bin Zayed Al Nahyan said the nation’s strength lies in its military, the unity of its society and the resilience of its development model.
H.H. Sheikh Mohammed hails UAE Armed Forces’ sacrifices and dedication
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has marked the 50th anniversary of the unification of the UAE Armed Forces with a statement praising their role, sacrifices and five decades of service in defending the nation and upholding its pride.
RTA steps up checks on Dubai bus shelters ahead of summer
Dubai’s Roads and Transport Authority (RTA) has launched a field campaign to check the readiness of air-conditioned bus shelters and passenger waiting facilities ahead of summer.