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August 13, 2017 | 10:45 | Dubai
Dubai Land Department (DLD) has announced that a total of 88 real estate projects have been launched from the beginning of 2016 until H1 2017. DLD has also confirmed that 68 real estate projects were registered during H1 2017, representing a value of AED 21 billion.
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “Dubai is currently witnessing increasing interest from international investors, which has reinforced confidence in our real estate sector and its future prospects.”
Against a backdrop of growing demand in the real estate market, the first half of this year saw the launch of 68 new projects that meet the aspirations of investors from across the world.
Bin Mejren added that 713 developers are registered in DLD’s database, alongside a total of 483 projects.
Emphasising the vitality of Dubai’s real estate market, bin Mejren explained that since the establishment of the Real Estate Regulatory Agency (RERA) ten years ago, 535 projects of various sizes have been completed, supporting a variety of economic activities in Dubai. The first half of this year also witnessed the completion of 24 projects that had been initiated in previous years.
The figures reaffirm the momentum and sustainability of Dubai’s real estate market, which is following an upward growth trajectory. Contributing local factors include the development of ambitious infrastructure projects, and the atmosphere of security and tranquility that continues to define Dubai and the wider United Arab Emirates.