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Robust growth in Dubai land deals |
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Wednesday, 07 January 2009 |
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Source: Copyright © 2007 Gulfnews.com. All rights reserved.
Dubai: The value of the total land transactions in Dubai jumped 47.5 per cent to Dh70.2 billion last year from Dh47.6 billion in 2007, according to figures from Dubai land department.
A total of 5,837 transactions were recorded in 2008, up from 3,997 transactions in 2007.
The most land activities were seen last May, with Dh11.6 billion spread over 793 transactions.
The least activity in 2008 was recorded in December with just Dh1.9 billion over 191 transaction.
However, this should come as no real surprise, given the dismal economic situation seen over the last quarter.
"I think Dubai has a very good market and will continue to grow, but it needs more time," Sultan Butti Bin Mejrin, director general of Dubai land department, said.
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