In comparison to the same period in 2022, the first nine months of 2023 saw substantial growth in Dubai’s real estate market, with a 36.7% increase in transaction value and a 33.8% increase in the number of transactions. During this time, 116,116 real estate transactions of Dh429.67 billion were reported by the Dubai Land Department. The department attributes this growth to the city’s well-known worldwide reputation, strong infrastructure, and development-oriented leadership.
A steady increase was also observed in real estate investments, with 81,669 investors registering 109,186 investments worth Dh278.7 billion. The strategic efforts of the Dubai Land Department to elevate the city’s status as a global real estate investment destination resulted in a notable increase of 50.3% in value, 33.3% in the number of investments, and 37.4% in the number of investors.
“Dubai’s real estate sector has set a global example for growth and excellence as well as played a vital role in propelling the national economy forward and driving comprehensive development efforts aimed at raising the emirate’s status as a leading economic powerhouse,” said Sultan Butti bin Mejren, Director General of Dubai Land Department.
The research also emphasized the growing number of women investing in real estate, with 27,120 women contributing 32,557 investments totaling Dh62.38 billion, indicating a notable increase in both the value of the investments and the number of female investors.
Al Barsha South Fourth, Dubai Marina, and Business Bay were the most popular real estate regions. In terms of transactional value, Palm Jumeirah and Jebel Ali Industrial First trailed Dubai Marina. Dubai Marina had the most mortgage transactions, but Jebel Ali First had the largest mortgage value.