No Ramadan slowdown for Dubai

Emirate saw a slight year on year rise on property transactions in August

Property transactions in Dubai rose slightly year-on-year in August, although the holy month of Ramadan is traditionally considered a slowdown period for the sector, figures by the Dubai Land Department (DLD) showed.

Topping the list in terms of total value was the Burj Khalifa area with the DLD registering 189 properties worth $98.8m, while Dubai Marina scored the highest number of transactions with 203 properties worth a total $78.95m.

In the first six months of this year, the department reported a 21% year-on-year jump in property transactions to $17.15bn, while deals surged 82% quarter-on-quarterin value terms.

The total of real estate transactions in 2011 reached 35,297 deals worth a combined $38.9bn, compared with $33.5bn in the previous year, the data showed.

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