Dubai’s real estate activity is ‘impressive’ despite the virus, property developer says following fall in sales

Dubai’s real estate activity is ‘impressive’ despite the virus, property developer says following fall in sales

Despite the global pandemic, Dubai has seen "impressive levels" of real estate transactions over the past few months, the chief commercial officer of a United Arab Emirates-based property developer said last week.Aqil Kazim of Nakheel's comments come even as real estate transactions in the second quarter of 2020 plummeted 38.8% compared to the same period last year. There were 5,559 transactions in the April to June quarter this year, down from 9,088 in 2019, according to the Dubai Land Department.Kazim said these are "unprecedented times," with the coronavirus health crisis having an impact on the market. The UAE has reported 62,525 confirmed cases of the coronavirus and 357 deaths, according to data compiled by Johns Hopkins University."But you know, despite these circumstances, we have witnessed impressive levels of real estate activity in