The Dubai Land Department revealed that the number of lease contracts that have been documented reached 369,055 contracts and that the percentage of renewed contracts amounted to 52% of the total number, while the share of new contracts reached 48% in the period from January to the end of last September with a total number of new contracts amounting to 177,146 new decade.
In the real estate bulletin issued by the Dubai Land Department under the name “Real Estate Sciences”, the department clarified that 10728 new investors entered during the first nine months of this year, as new investors represented 70% of the total number of investors during that period.
The real estate bulletin showed that the real estate market in the emirate has maintained its appeal among local and international investors, despite the unexpected effects of the outbreak of the emerging “Covid-19” virus.
The real estate bulletin indicated that the total investment inflows in the emirate amounted to 50 billion dirhams in the real estate market as transactions and mortgages resulting in 706 million dirhams as commissions owed to real estate brokers during the first nine months of the year 2020.
The bulletin highlighted the five best areas in terms of investor attractiveness .. In the villas category, the lead was for “Al Habiya 4”, “Wadi Al Safa 5”, “Al Yalayas 2”, “Airport City” and “Wadi Al Safa 7” .. while the area was the first. Burj Khalifa, “Nad Hessa”, “Al Hebiah Al Awal”, “Al Barsha South Fourth” and “Sheikh Mohammed Bin Rashid Gardens” are among the other areas in terms of apartment sales.
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