The Dubai Land Department (DLD) announced that 90 projects were completed and 150 projects worth USD 22.34 bn were registered in Dubai in 2017, Invest-Gate reports.

“There is a strong coordination among all relevant government institutions, including the DLD, as well as between developers and various parties in the market to establish confidence among investors and achieve the highest degree of transparency in Dubai’s real estate market,” Sultan Butti Bin Mejren, director-general of DLD says.

He added that there is also high demand from developers to deposit the 20% escrow of the total value of future projects, as it enhances investor confidence in their projects.

“All agreed, and applicable procedures in the market provide reassurance to both developers and investors. They also work to limit transgressions among all parties and prevent the emergence of any negative activities to protect the Dubai’s real estate market, especially as it has gained wide international fame by focusing on protecting the rights of all,” Bin Mejren adds.

According to Bin Mejren there has been an optimistic mood in the real estate market since the beginning of 2018, he claims that DLD’s procedures has attracted investors from all over the world, making Dubai the preferred place to live, work and visit.