According to data, the Dubai Land Department issued 9,047 real estate permits and 6,479 real estate licences in 2022, an increase of 46.6% and 53.0%, respectively, compared to 2021 levels.
The rapid increase in permits and licences is a reflection of the rising demand from international real estate investors, who are attracted by Dubai’s robust development potential and the possibility of high returns on the local market.
Dubai’s real estate market had sales of a record Dh528 billion last year, an increase of 76.5% from 2021, as it continues on its exponential development trajectory. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, established the Dubai Economic Agenda D33 with the intention of doubling the size of the emirate’s economy by 2033 and solidifying its position as one of the top three cities in the world. The sector’s outstanding performance supports these objectives.
Online ads received the most DLD licences (7,947), followed by classified ads (180), outdoor ads (164), vehicle advertisements (140), billboards (138), open-day announcements (95), text messages (84), real estate marketing platforms (75), printed ads (50), and project opening ceremonies (38). Additionally, licences were provided for real estate fairs, seminars, advertising, and publications, among other things.
Real estate brokerages that buy and sell real estate received the most DLD licences (2,308), followed by brokerages that sublet real estate (1,570), services that monitor transactions (1,273), administrative supervision services for real estate (491), brokerages that buy and sell land and real estate (299), real estate development (161), and commercial complexes (170). (117). In addition to these major categories, licences were also provided for shopping centres, mortgage brokers, and jointly held property management services.