Real estate transactions in the Emirate of Dubai achieved significant growth during the first nine months of this year, by more than 36.7% in value and 33.8% in terms of number of transactions compared to the same period in 2022, according to data issued by the Dubai Land Department, which showed Real estate transactions in the emirate reached 116,116 real estate transactions with a total value of 429.67 billion dirhams, an indicator of the sustainability of growth and great flexibility in the emirate’s real estate market, thanks to the vision and directives of the wise leadership, the global status of Dubai and its advanced infrastructure, which has become an important pillar of the comprehensive development process it is witnessing. The emirate at all levels.
Likewise, real estate investments witnessed steady growth during the aforementioned period after recording 109,186 real estate investments worth 278.7 billion dirhams, owned by 81,669 investors, with a growth of 50.3% in terms of value, 33.3% in terms of number of investments, and 37.4% in terms of number of investors, which confirms DLD’s efforts, its strategic vision, and its endeavors to enhance global leadership in real estate investment by providing proactive real estate services, integrated legislation and data, consolidating effective partnerships, and a pioneering digital infrastructure that contribute to attracting real estate investments on a large scale.
Dubai is at the forefront of global economic cities
His Excellency Sultan Butti bin Mejren, Director General of the Dubai Land Department, stressed the importance of the positive sustainable results achieved by the real estate sector in Dubai, and its role in enhancing the comprehensive and sustainable development process in the emirate, in an effort to strengthen its position among the three most important economic cities in the world, in accordance with an economic agenda. Ambitious and proactive, it enhances the emirate’s competitiveness and its attractiveness to global investments.
Bin Mejren said: “The real estate sector not only contributes today to consolidating Dubai’s position as an ideal and pioneering real estate destination, but it goes beyond that to constitute a major driver for the growth of the national economy in general, and to bring about qualitative shifts in sustainable and comprehensive development that aims to make the emirate a global economic capital.”
He added: “Dubai is adopting very ambitious trends, innovative techniques, and advanced technology in the world of real estate, which has led to enhanced transparency and trust among various local and international investors, who have come to find Dubai their ideal destination that provides them with a high-quality living environment and diverse services with the utmost ease. We confirm that “Our firm commitment to achieving further excellence in the real estate sector so that the emirate remains a role model for modern, advanced cities.”
Women’s investments represented 32,557 investments out of the total investments, with a value of 62.38 billion dirhams, owned by 27,120 women, a growth of 36.1% in terms of the number of investments, 53.8% in terms of value, and 38.2% in terms of the number of female investors, compared to the same period in 2022.
The highest areas of transactions and mortgages
With regard to the top ten areas in terms of the number of real estate transactions in the Dubai market during the same period, the Al Barsha South Fourth area topped the number of transactions (10,351 transactions), followed by the areas: Dubai Marina (9,071 transactions), Business Bay (7,414 transactions), and Wadi Al Safa 5 ( 5,602 transactions, Al Mirkaad (5,538 transactions), Al Thanyah 5 (5,437 transactions), Burj Khalifa (5,220 transactions), Al Khairan I (4,567 transactions), Sheikh Mohammed bin Rashid Gardens (4,195 transactions), and Jebel Ali First (3,737 transactions).
The Dubai Marina area topped the top ten areas in terms of the value of real estate transactions, with a total value of transactions amounting to (36.7 billion dirhams), followed by the areas: Palm Jumeirah (28.51 billion), Jebel Ali Industrial City 1 (27.93 billion), and Wadi Al Safa 3 (25.33 billion). , Business Bay (20.08 billion), Burj Khalifa (17.86 billion), Al Merkad (14.53 billion), Al Khiran First (13.81 billion), Sheikh Mohammed bin Rashid Gardens (13.6 billion), and Jebel Ali First (12.91 billion).
In terms of the top ten areas in terms of the number of mortgages, Dubai Marina came in the lead with (1,186) mortgages, followed by Al Thanyah Fifth (879) mortgages, Al Barsha South Fourth (879) mortgages, and Burj Khalifa (874) mortgages. Jebel Ali First (789) mortgages, Al Awir First area (743) mortgages, Sheikh Mohammed bin Rashid Gardens (665) mortgages, Business Bay (652) mortgages, Wadi Al Safa 5 (629) mortgages, and Palm Jumeirah (526) mortgages.
Jebel Ali Industrial Zone 1 topped the list in terms of the value of mortgages with (27.78 billion dirhams), followed by areas: Wadi Al Safa 3 (14.97 billion), Jebel Ali 1 (6.96 billion), Palm Jumeirah (6.19 billion), and Dubai Marina (5.02 billion). ), Business Bay (4.11 billion), Al Merkadh (3.45 billion), Al Khiran (3.04 billion), Al Barsha South Fourth (2.41 billion) and Burj Khalifa (2.24 billion).
