Realty deals during the above-mentioned period both in Abu Dhabi and Dubai amounted to USD 16 billion.
UAE property market saw nearly USD 18.6 billion in sales transactions in the first quarter of the year. The successful result is a fresh sign that the worst is over and economic recovery is accelerating due to increased spending on infrastructure development and recorded growth in trade and tourism sectors across the country.
Statistics revealed by the departments concerned in Abu Dhabi, Dubai, Sharjah and Ajman reflects investor demand for property in all four emirates. Realty deals during the above-mentioned period both in Abu Dhabi and Dubai amounted to USD 16 billion, which is 86 percent of the total transactions in the four emirates.
From January to April, Dubai registered USD 12.9 billion worth of property transactions, according to the statistics of the Dubai Land Department. And a total of 5,800 real estate deals were carried out in the emirate from January to March.
In Abu Dhabi, USD 3.1 billion of property sales transactions were recorded by the Department of Municipalities and Transport. 3,847 deals were conducted in the emirate in total during the reference period.
Sharjah witnessed a total of 20,448 property sales transactions worth USD USD 1.8 billion during Q1 2021, a growth of 84.9 percent over the same period last year, the emirate's Real Estate Registration Department revealed.
Property deals in Ajman stood at USD 735 million in the first quarter of the year, stated the Department of Land and Real Estate Regulation. According to the department's forecasts, the emirate's real estate market is expected to further pick up over the coming months.