Union Properties is predicting an improved first quarter when it reports its results, after property transactions in Dubai surged 53 per cent.
"The first quarter looks positive, much better than 2011 … and if there is a continuation of that trend it should benefit the sector in the medium term," said Khalid bin Kalban, the chief executive in Dubai.
Investors made 654 land sales, which include apartments, villas and townhouses, between January 1 and March 31, official data from the Dubai Land Department shows, compared with 426 transactions in the year-earlier period.
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