Dubai news /
Live in Dubaï /
The Dubai Land Department, DLD, has announced that 2017 was a year filled with activity in the real estate market, facilitated by the department's flexible procedures and keenness to strengthen cooperation and coordination with real estate developers, establishing a safe and transparent market environment.
Commenting on market activity in 2017, Sultan Butti bin Mejren, Director-General of DLD, confirmed that a total of 90 projects were completed, while 150 projects worth AED82 billion were registered.
He said that there had been an optimistic mood in the market since the beginning of 2018, adding that there is a strong demand from developers to deposit the 20 percent escrow of the total value of future projects they intend to launch, as it enhances investor confidence in real estate development projects.