Dubai’s real estate market logged 39,802 transactions worth AED 162 bn during the period from January to September 2018, reflecting a continuous growth driven by optimism among investors and developers, Invest-Gate reports.

“The first nine months of 2018 recorded 25,473 sales transactions worth more than AED 56.6 bn, about 11,000 mortgage transactions worth over AED 86 bn, and 3,486 other transactions valued at AED 19.3 bn,” according to a report by the Dubai Land Department (DLD).

In the first nine months of 2017, Dubai saw AED 204 bn worth of real estate transactions achieved via 52,170 transactions.

Dubai received 27,174 investments from 21,605 investors, totaling around AED 50 bn in the first nine months of 2018, DLD’s report stated, underscoring that the figures reflect the emirate’s multi-year sustained growth. It further noted that investments were directed from 163 distinct nationalities, with the majority coming from the GCC and Arab world.

“These positive repercussions will continue to resonate in the short and long terms by introducing new sales categories for either personal use or for investing,” according to DLD’s General Director Sultan Butti bin Mejren.

In terms of mortgages, Dubai Marina logged 736 transactions for a total of AED 2.238 bn, Al Thanyah Fifth came in second with 640 transactions worth AED 1.356 bn, and Business Bay listed 590 transactions worth over AED 3.7 bn – topping the list in terms of value, according to DLD’s data.

The report concluded that GCC investors were among the top buyers and investors in Dubai properties as their investments surpass “AED 13.7 bn through 6,681 transactions made by 4,904 investors.”