Business Bay, the mega-development of Dubai Properties, recorded a growth in the volume of sales transactions by 24% in Q3 2013 compared to the same period in 2012.
With over 135 residential transactions reported in the third quarter of 2013, the total value of residential and mixed-use property sales in Business Bay was close to Dhs268m, an increase of 62% compared to the same period last year, according to data by the Dubai Land Department.
The third quarter (July to September) of 2013 recorded a 12% growth in volume of sales transactions compared to the second quarter of 2013. Over 135 sales transactions were made during this period, valued over Dhs268m, an increase of 12% in value of sales transactions compared to the second quarter of 2013. The highest number of transactions were made in September with 63 apartments and mixed-use units sold at a total value of over Dhs115m, according to data by the Dubai Land Department.
Porush Jhunjhunwala, Director at Banke International, the premier property sales company with a strong roster of residential and commercial properties in Dubai, said, “Business Bay has emerged as one of the front-runners driving the last few months with rental rates and sales prices firming up during the third quarter of 2013 and now witnessing further increase in demand and take-up by both property buyers and tenants.” More info