In February, sales of finished real estate in Dubai increased to $ 2.3 billion

According to Egyptian investment bank EFG Hermes, the value of transactions with ready-made real estate in Dubai more than doubled year-on-year to 8.5 billion dirhams ($2.3 billion) in February. The increase is due to the revival of the real estate market caused by the government initiative and Expo-2020 in Dubai.

Total residential activity increased by 34% year-on-year to 15.5 billion dirhams in February, while 6,913 real estate units were sold. First, this was facilitated by a three-fold increase in the value of off-plan real estate and a 107 percent increase in sales of ready-to-move properties.

In February, a total of 2,399 off-plan apartments worth 4.24 billion dirhams were sold, compared with 955 houses worth 1.26 billion dirhams in the same period last year.