DLD: 14,000 properties completed in Dubai in first eight months of 2018
The DLD’s reporting period was from January 1 to August 31 of this year
The Dubai Land Department (DLD) has revealed that 47 projects have been completed to date in 2018, including 10,000 apartments, 364 residential complexes, 2,258 townhouses and 1,575 villas. The DLD said that the completion of the projects was ‘encouraging’ since they were completed on schedule.
According to a statement, 900 transactions totaling $3.26bn saw 1,000 investors receive their properties. The DLD said that the figures demonstrate ‘Dubai’s superiority, its distinctive position as a preferred international investment destination, and its ability to enter into a profitable competition with others through its unique features’.
“47 projects were introduced into the market after they were completed based on their set timelines. The success of delivery of the 47 completed projects reflects the interest and commitment of developers who are working with the highest levels of integrity and transparency with investors. At DLD, we seek to consolidate these values in our real estate market and observe that these projects are characterised by their diversity that help meet the demand for different types of units and avoid excess supply in any category,” said Sultan Butti bin Mejren, director general of the Dubai Land Department.
Bin Mejren also said that Dubai can continue its positive momentum leading up to Expo Dubai 2020 and the years that follow. Expo 2020 is a unique opportunity to reveal the strengths of the local economy and the benefits the real estate sector provides investors with, he said.
“The attractiveness of our real estate sector is not driven by quality projects that offer options to the investor, but from the work values produced by different parties, and the commitment of developers to deliver their projects on time, with integrated infrastructure and intelligent development of all procedures which results in customer satisfaction and happiness. Finally, the existence of legal and established procedures ensures the rights of all real estate parties,” concluded Bin Mejren.
