By Parag Deulgaonkar www.emirates247.com
Although Ramadan is often considered a slowdown period for the property sector, Dubai’s property transactions reached Dh2.2 billion in August, slightly higher than the same period last year, Dubai Land Department data reveals.
Dubai Marina topped the chart of areas with maximum number of transactions, while Burj Khalifa area topped the list in value terms.
The department registered 189 properties in the Burj Khalifa area worth Dh363 million, while in Marina 203 properties worth Dh290 million were registered.
The Palm Jumeirah saw registration of 57 properties worth Dh247 million.
Last month, the Land Department said property transactions jumped 21 per cent to Dh63 billion in the first half of 2012 compared to the same period last year, while transactions surged 82 per cent in value terms quarter-on-quarter.
In 2011, a total of 35,297 real estate transactions of Dh143 billion were reported compared to Dh123 billion in 2010. More info