Dubai desert gold dust
Dubai has seen an amazing transformation over the last 50 years, rising from the barren desert to represent some of the finest aspirations of mankind. The desert dust of Dubai may as well be gold dust when looking at figures of land sales in the area.
The Land Department reported yesterday that land transactions peaked at over Dhs180m, with sales exceeding Dhs130m.
The value of property in Dubai has seen a massive slip since the peak prices of 2006-2007, and real estate in the UAE is just about keeping its head above water, as imposing construction projects leak capital and investment.
But there are significant signs of life out in the deserted market, an example being that on 17th November eight sale transactions had been registered with the department. The most valuable being a land plot in Marsa Dubai, at Dhs13m. In addition to this 11 mortgages were confirmed with a combined total well over Dhs14m.
Dubai continually forges forth and recent rises in property values shows that today’s investment opportunities are golden.