In Q1-20223, the real estate market in Dubai had total transaction values of Dh157 billion, a rise of 80% from the corresponding quarter in 2022. In the year 2022, the industry generated yearly transactions totaling Dh528 billion.
“Dubai’s real estate sector is one of the key drivers of economic growth and a major factor in maintaining Dubai’s position in the global economy,” said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE. “As one of the most important pillars of the economy, the sector is a vital contributor to the emirate’s efforts to achieve the goals of the Dubai Economic Agenda D33.”
“We remain committed to further raising the investment attractiveness of Dubai’s real estate sector and its emergence as one of the world’s pre-eminent real estate investment destinations,” he added.
Exceptional performance
In the three months that ended on March 31, Dubai’s real estate market continued its rapid expansion, with 38,700 sales totaling Dh157 billion, a 49% increase in volume from Q1-22022, which had 26,000 deals worth Dh87 billion. The development contributes to the goals of His Highness Sheikh Mohammed bin Rashid Al Maktoum’s Dubai Economic Agenda D33, which include boosting investments from the private sector and elevating Dubai to the top of the list of world cities.
“We are strongly committed to the comprehensive development of the sector as part of our efforts to ensure Dubai reinforces its position as one of the world’s best real estate investment destinations,” said Sultan Butti bin Mejren, Director-General of the Dubai Land Department.