Dubai’s real estate transactions grew 80% in Q1-2023, reaching Dh157 billion
The value of all transactions in Dubai’s real estate market in Q1-20223 totaled Dh157 billion, an increase of 80% from the same period in 2022. The industry generated annual transactions worth Dh528 billion in 2022.
“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.
The real estate market in Dubai continues to grow quickly in the three months that ended on March 31 with 38,700 transactions totaling Dh157 billion, a 49% increase in volume from Q1-22022, which saw 26,000 deals for Dh87 billion. The project advances His Highness Sheikh Mohammed bin Rashid Al Maktoum’s Dubai Economic Agenda D33 objectives, which include increasing private sector investment and pushing Dubai to the top of the list of global 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.