Dubai's Real Estate Transactions Hit a Record High in 2022

  • Publish date: Tuesday، 17 January 2023 | Last update: Tuesday، 10 December 2024
Related articles
Dubai Rents Climb Over 25% in the First 4 Months of 2023
Women Invested Over AED 58 Billion in Dubai Real Estates in 2022
Here Are Dubai's Top Areas for Villas and Apartments

Dubai's annual real estate transactions hit a record high of AED528 billion ($143.75 billion) in 2022, crossing the milestone of half a trillion dirhams for the first time, an increase of 76.5 percent from 2021, a Dubai Media Office statement read.

The sector saw a total of 122,658 real estate transactions last year, a 44.7 percent surge from a year prior.

This performance was described as "exceptional" by Dubai Crown Prince Sheikh Hamdan bin Mohammed, as the sector is a pillar of Dubai's strategy for sustainable development. 

"The exceptional performance of the real estate sector reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai one of the world's top three cities," said Sheikh Hamdan. 

"The results also support the goal of the Dubai Economic Agenda D33 … to double the size of Dubai's economy by 2033," he added.

Meanwhile, Dubai remains one of the world's most attractive investment destinations because of its stable economy, "growing profile as one of the best metropolises to live and work, its exceptional infrastructure and supportive regulations," Sheikh Hamdan said.

The emirate saw 115,183 new real estate investments in 2022 valued at AED264.15 billion ($71.92 billion), an annual growth of 59.5 percent in volume and 78.4 percent in value. 

The number of investors in 2022 also grew 53 percent, compared to a year earlier, recording 80,216 investors.
 

Related articles