Dubai property deal values at four-year high

article author:
Arab News
Sun, 2021-06-20 14:41

The value of Dubai property deals hit a four-year high in May, new data reveals.
Some 4,429 transactions worth 11.11 billion dirhams ($3 billion) were recorded in May, state news agency WAM reported, citing Dubai’s official sales price index. That represented the highest deal value since March 2017.
A rapid vaccination program, eased residency rules and ongoing business reforms are helping the Dubai property market to rebound after years of stagnation.
However, a glut of new homes under construction continues to weigh on some sectors of the real estate market.

Main category:
Business
Tags:
Dubai
real estate

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