- January 25, 2023
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Dubai – 122,658 Real Estate Transactions Recorded
Dubai’s real estate sector reached a major milestone in 2022 with a total of 122,658 transactions. This is an increase by 44.7% from 2021. The increase in real estate transactions reflects Dubai’s re-emergence as a popular destination for property investments. The annual real estate transactions worth AED 528 billion were recorded based on the report by Dubai Media Office.
Dubai is the world’s most attractive investment destination. This is due to its stable economy and ability to constantly find new opportunities for growth. Moreover, global investors and businesses continue to have high confidence in Dubai’s economy due to its growing profile as one of the best metropolises to live and work.
Dubai Real Estate Sector Growth Rate
In 2022, Dubai saw 80,216 investors registering 115,183 new real estate investments valued at AED 264 billion. Likewise, the number of investors in 2022 increased by 53% compared to 2021. The real estate sector’s exceptional growth underscores Dubai’s rising profile as the ‘city of the future’ and a major gateway to some of the world’s fastest-growing emerging markets.
Dubai’s economy continues to witness strong growth despite the challenging global economic situation. In the first nine months of 2022, Dubai’s GDP grew 4.6% year-on-year to reach AED 307.5 billion. The recently launched Dubai Economic Agenda D33 features total economic targets of AED 32 trillion over the next 10 years.
Dubai’s Real Estate Sector – Future Growth
The director-general of Dubai Land Department, said the real estate sector’s rapid growth is primarily driven by cooperation between public and private stakeholders. Recently, a Strategic Plan 2026 charting a roadmap for establishing Dubai as the best real estate market globally. The plan aims to ensure effective governance, promote innovation and harness technologies to develop new real estate solutions.
Furthermore, Dubai has maintained a strong focus on implementing global standards and best practices in the local real estate market. It is a major factor attracting foreign direct investment (FDI) to invest in the Dubai’s real estate market. In the first half of 2022, Dubai witnessed FDI inflows of AED 13.72bn in H1 2022, reflecting a growth of 14.6% compared to 2021. Rated as the best marketing research company in Dubai, we affirm the rising interest among the global investors in Dubai’s real estate sector.
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