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Monday, September 20, 2021

There is a lot of optimism about the future of the real estate sector: Muhammad Binghatti

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The real estate and properties transactions in Dubai esteemed at Dhs4.53 billion altogether during the week. The amount of transactions was 1,541.

113 plots were sold for Dhs548.09 million, 1,036 apartments and manors were sold for Dhs1.87 billion.

The best three transactions were a land in Island 2 sold for Dhs34 million, trailed by a land that was sold for Dhs26.5 million in Al Thanayah Fourth, and a land sold for Dhs34 million in Island 2 in third spot.

Al Hebiah Fourth recorded the most exchanges during the current week by 41 deals transactions worth Dhs144.07 million, trailed by Nad Al Shiba Third with 23 deals transactions worth Dhs56.7 million, and Al Hebiah Third with 12 deals transactions worth Dhs28 million in third spot.

The main three exchanges for apartments and manors were an apartment was sold for Dhs309 million in Marsa Dubai, an apartment was second in the rundown sold for Dhs 177 million in Burj Khalifa, and thirdly it was an apartment sold for Dhs162 million in Al Merkadh.

The amount of the amount of mortgaged properties for the week was Dhs2 billion, with the most noteworthy being a land in Mena Jabal Ali, mortgaged for Dhs 480 million.

Muhammad Binghatti, CEO, Binghatti Developers disclosed to Media that he is extremely optimistic about the fate of the real estate area with the help of the inescapable occasion of the World Expo in October 2021, adding that the COVID-19 inoculation crusade has additionally assumed an essential part in boosting the property area.

“We see that the market is on upward direction, with solid indications of the rental market. These variables authorize the market recuperation when supply is consistent. Request is as yet solid likewise,” Binghatti added.

He referenced that his organization has reported beginning deals of a selective gathering of private units in its new venture Binghatti Gate (The Gate) which is at the passageway of the Jumeirah Village Circle in Dubai, with a speculation of about Dhs150m.

Binghatti called attention to that the organization’s present estimating strategy is roughly at the optional market prices levels, as there is no huge distinction between the prices of our new projects and the auxiliary market when selling.

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