In contrast to the same period in 2022, the initial nine months of 2023 witnessed substantial growth in Dubai’s real estate market, marked by a remarkable 36.7% surge in transaction value and a significant 33.8% increase in the number of transactions. During this period, the Dubai Land Department reported a total of 116,116 real estate transactions amounting to Dh429.67 billion. This impressive growth is attributed to the city’s renowned global reputation, robust infrastructure, and forward-looking leadership.
Additionally, there was a consistent uptick in real estate investments, with 81,669 investors registering 109,186 investments valued at Dh278.7 billion. The strategic initiatives undertaken by the Dubai Land Department to position the city as a premier global real estate investment destination led to a notable increase of 50.3% in investment value, a 33.3% rise in the number of investments, and a 37.4% increase in the number of investors.
Sultan Butti bin Mejren, Director General of Dubai Land Department, highlighted the role of Dubai’s real estate sector in setting a global example for growth and excellence, contributing significantly to the national economy and advancing comprehensive development efforts aimed at elevating the emirate’s status as a leading economic powerhouse.
The research also underscored the growing participation of women in real estate investment, with 27,120 women making 32,557 investments totaling Dh62.38 billion. This signifies a noteworthy increase in both the value of investments made by female investors and the overall number of female investors.
Among the most popular real estate regions, Al Barsha South Fourth, Dubai Marina, and Business Bay stood out. Palm Jumeirah and Jebel Ali Industrial First followed Dubai Marina in terms of transactional value, with Dubai Marina leading in mortgage transactions, while Jebel Ali First boasted the highest mortgage value.
