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Dubai records over AED1.3 billion in realty transactions

Fri 09 Sep 2022    
EcoBalance
| 2 min read

Dubai: Dubai real estate market recorded 372 sales transactions worth AED1.04 billion, in addition to 76 mortgage deals of AED148.6 million, and 28 gift deals amounting to AED169.89 million, data released by Dubai’s Land Department (DLD) showed.

The sales included 341 villas and apartments worth AED883.13 million, and 31 land plots worth AED161.82 million, while mortgages included 64 villas and apartments worth AED127.03 million and 12 land plots valued at AED21.57 million, bringing the total realty transactions of today to over AED1.3 billion.

About Dubai Land Department

Dubai Land Department (DLD) was founded in May 1960 to establish the most prominent real estate sector at regional and international levels.

DLD provides outstanding services to all its customers and develops the necessary legislation to propel the real estate sector in Dubai by organising and promoting real estate investment and spreading industry knowledge. DLD seeks regional and worldwide innovation in real estate with the aid of its active sectors that include Real Estate Registration and Services, Real Estate Promotion and Investment Management, and Corporate Support, as well as with the aid of its active organisations that include the Real Estate Regulatory Agency, the Dubai Real Estate Institute, and the Rental Dispute Centre.

DLD was formerly known in the 1950s as the Land Registry Department. It was the first entity to handle properties and ownership affairs until HH Sheikh Rashid bin Saeed Al Maktoum, one of the Founding Fathers of the UAE and its Union rules, established the Land Affairs Commission, granting it the authority to document and audit certificates, and examine and map properties.

HH Sheikh Rashid bin Saeed Al Maktoum, a veteran and a man known for his expertise and insightful policy, issued the Land and Property Department establishment papers on 23rd January 1960, founding the most important real estate sector in the Middle East and the world. Dubai realty sale transactions Dubai realty sale transactions

DLD falls under the Executive Council of Dubai’s umbrella, headed by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, and strives to provide a range of real-estate-related services. The most prominent of these services are documenting property sales and purchases, issuing real estate ownership, organizing and promoting investments, and spreading knowledge and culture pertaining to a well-trained and qualified national cadre in the real estate sector. The department strives to provide the best services to its clients and to facilitate customers’ transactions, a culture inspired by the competitive and productive vision set by the Emirates 2021 plan.

WAM


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