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Gulf country's real estate deals grew by 52% in 2021
Posted on March 14, 2022 |
In 2021, in the Gulf countries, real estate deals grew annually by 52% to $137.4 billion compared to $90.5 billion in 2020.
Saudi Arabia contributed over 41% of the total value of deals, while the UAE (Dubai and Abu Dhabi combined) added 33.4% to the deals in the region during 2021 which reached 663,323 compared to 570,080 in 2020.
In 2021, the average value of each real estate transaction for Saudi Arabia grew by 29.7%, and for Dubai markets grew by 21.6%.
The increase in real estate transaction activities on an annual basis in 2021 is due to grabbing exceptional buying opportunities, mortgage investors seeking to get low rates for mortgage operations, and government initiatives to support housing and mortgages.