Dubai posted its highest real estate transaction volume in 12 years

Dubai real estate transactions hit a 12-year-high in July at AED 20.9B (USD 5.7B). The most popular districts for real estate sales included Downtown Dubai, Jumeirah Village Circle (JVC), Dubai Marina, Palm Jumeirah, Business Bay and Jumeirah Lake Towers (JLT).

As stated by the report by Property Finder, the volume of real estate transactions reached 7,092, which is 63.6% more compared to the previous year. In terms of value, July registered an 88.41% rise.

According to the company’s UAE Country Manager, Scott Bond, the market demonstrated a solid performance for July, breaking the market volume peak in 2013, and led to the highest year-on-year market value transactions.

Ready properties dominated the sales deals in July at 59% or over 4,000 housing units. The report also confirmed that off-plan market properties, which included the 41% share of all the deals, saw nearly 3,000 transactions.

In addition, Dubai’s Museum of the Future cooperates with DEWA at a new sustainability exhibition. The partnership will help to position the emirate of Dubai as a leading city of the future, which demonstrates unique technologies and solutions related to the future of renewable energy and environmental sustainability.

According to DEWA’s Managing Director and Chief Executive Officer, Saeed Mohammed Al Tayer, the agreement has contributed to the museum being the first in the Middle East region to apply for the Platinum Rating in the LEED (Leadership in Energy and Environmental Design), which is the highest ranking for green buildings worldwide.