Thursday, September 30, 2010

More than 300 real estate projects in Dubai to be completed soon

About 307 real estate projects out of the 980 registered projects in Dubai, are likely to be completed shortly, states the prospectus of bond by the Dubai Government.

The government, by quoting RERA in the prospectus, said that out of the total number of registered projects, 46 have been completed, while another 307 are likely to be completed in due course.

The number of registered projects that are either cancelled or are in the process of cancellation, totals to 495 in number.

According to RERA, there are a total of 500 registered developers in Dubai, with more than 630 being registered brokers.

The major developers in Dubai are all owned by the Dubai Government, and/or the Ruling Family of Dubai. These include Emaar Properties, Nakheel, Dubai Properties, Union Properties and Deyaar Development.

But, the Dubai Land Department has reported 1,188 sale transactions, in comparison to 510 sale transactions during the second half of 2009, an increase of nearly 132 percent.

The Land Department reported a slight decrease in the number of mortgage-related transactions, with 1697 such transactions taking place during the first half of 2010, in comparison to 1861 such transactions during second half of 2009.


jack39 said...

For this announcement to have any credibility, RERA must publish a detailed list of those projects that will be completed (and when) and those that will be cancelled.
Surely, that can't be too difficult?

Salma Raul said...

Dubai is becoming one of the top and well known country in the field of real estate. As far according to my information the exact figure of under going real estate projects is 348 but i dont know whether this figure is 100 % accurate. But still in coming few years Dubai will be the top business maker in real estate.