Value of Dubai real estate projects for H1 2017 hits $5.7bn

The first half of 2017 saw a total of 68 real estate projects, worth $5.7bn (AED21bn), registered with Dubai Land Department

Real estate projects worth $5.7bn (AED21bn) were registered with DLD in H1 2017 [representational image].
Real estate projects worth $5.7bn (AED21bn) were registered with DLD in H1 2017 [representational image].

The first half of 2017 saw a total of 68 real estate projects registered with Dubai Land Department (DLD), it has been revealed.

The estimated value of the projects is $5.7bn (AED21bn), according to UAE state news agency, WAM. The news agency noted that the period also witnessed the completion of 24 existing projects.

Sultan Butti bin Mejren, director-general of DLD, commented: “Dubai is currently witnessing increasing interest from international investors, which has reinforced confidence in our real estate sector and its future prospects.”

DLD currently has more than 700 developers and nearly 500 projects registered in its database, WAM revealed, quoting bin Mejren, who noted that since the Real Estate Regulatory Agency (RERA) was established a decade ago, 535 projects have been completed in Dubai.

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