35.3 thousand lease contracts in Dubai during May 2022

Dubai – Mubasher: The total number of lease contracts in Dubai reached about 35.3 thousand contracts, during the month of May, of which 59.6% were new contracts and 40.4% were renewable contracts..

The percentage of annual contracts reached 80.9% of the total contracts during the month of May, and the percentage of non-annual contracts was about 19.1%According to the Dubai residential rental performance index.

The contracts registered for residential purposes accounted for about 73.8% of the total contracts, and 25.3% of the contracts were registered for commercial purposes..

Jebel Ali First region topped the region with 1,398 contracts, followed by Al Warsan First with 1,285 contracts, then Business Bay with 1,029 contracts.

The first five months of this year achieved a growth rate of 2.1%, affected by the growth rate of renewed lease contracts, which amounted to about 4.4% since the beginning of the year compared to last year, in addition to the growth achieved in annual lease contracts, which amounted to about 11.5%, and the growth of contracts registered for commercial purposes by about 8.47%.

AndLease contracts in Dubai increased by 4% to 160,5 thousand contracts, during the first quarter of 2022, compared to the fourth quarter of 2021.

New lease contracts amounted to 51.89% of the total contracts during the first quarter of 2022, while renewed contracts amounted to 48.1%.

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