An analysis done by W , the Dubai-based real estate brokerage, showed that total Dubai real estate sales  in 2022 amounted to Dhs265.6bn, which is the highest  on an annual basis value ever in the history of the Dubai  market , distributed over more than 97.48 thousand transactions.

Real estate sales grew by about 78.3% on an annual basis in terms of value, compared to about Dhs149bn, and 62% in terms of the number of deals compared to 60.2 thousand deals in the past year, according to the study based on the data of the Dubai Land Department.

The 2022 sales achieved are in line with the expectations of the “W Capital” real estate brokerage , which suggested recording between dhs260-270bn at the very least, while the total sales recorded during the previous three years together amounted to Dhs295bn.

December also witnessed the highest monthly value of real estate sales deals ever, exceeding Dhs26bn, which is the second highest monthly sales ever, after the sector recorded sales of about Dhs30.8bn last November as the highest value for one month in the history of the real estate market in Dubai.

“2022 is the best year as for performance of the real estate market in Dubai, as it witnessed breaking records time after time, recording a new annual level that has not been witnessed before, whether in terms of values or sizes, thus enabling the sector’s to continue its upward trajectory,” said  Walid Al Zarooni, Chairman of  “W Capital”.

Al Zarooni pointed out that the real estate sector in Dubai generally shows signs of positive and sustainable growth, as it succeeded in proving its flexibility, attractiveness, and ability to boost investor confidence, in spite of the exceptional circumstances. He added that real estate sales are now no less than one billion  dirhams  per day, which is a strong indication of the continuation of the exceptional momentum and performance that began in late 2021, and this is also strong evidence of the growing investment attractiveness of the sector.

He pointed out that the Dubai real estate market was able to attract large numbers of investors from all over the world, who found in the emirate and its real estate market the best infrastructure and the most stimulating environment for investment and guaranteeing the rights of investors, as well as many elements that help them achieve their various aspirations in the best possible way in the future. Dubai is the best place to live, work and invest alike.

He stressed that the real estate sector in Dubai continues to assert its position as a fundamental pillar of growth for all sectors and economic activities, thanks to the results that the sector showed  during the year 2022.That was due to many factors, foremost of which are the wise directives of the wise leadership, and the economic stimulus packages provided by the Dubai government, along with the impact of “Dubai Expo 2020 ” during the first three months of the year, in addition to the number of major events such as Cityscape Dubai. That all is to be added to the sector’s flexibility and attractiveness , and the confidence and transparency that  is evident to investors and various categories of dealers.

“This reflects the maturity of the market on the one hand, and its ability to continue to attract high-net-worth investors from all over the world on the other hand,” Al Zarooni said. “While many other global markets are facing a state of uncertainty” he concluded.

He stressed that the real estate market in Dubai is still receiving great support from the unlimited facilities and qualitative initiatives launched by the emirate’s government, represented by policies to support residents, new residency laws, residency visa for entrepreneurs and investors, in addition to the infrastructure that made Dubai a global leader in real estate.

“The prospects for the real estate market in Dubai look very promising in 2023, and it will be a matter of time to see if next year will be able to break the  latest records , as demand is expected to continue to grow, and prices to rise,” Al Zarooni said.” That makes the Dubai real estate market a fertile ground for investment, with attractive investment opportunities and good returns, amid the difficulties in other major markets around the world that are still suffering from economic pressures since the Covid-19 pandemic,’ he added.

Dubai real estate sales 2000-2022

No. of deals Sales value (Billion dirhams)
97478 265.6
60213 149
33962 69.77
37657 76.68
32495 73.68
46501 113.90
46643 103.1
55624 124.11
63555 136.57
37783 141.18
31107 73.18
45184 59.30
85716 78.94
23843 137.22
9209 110.1
2699 52.68
2594 18.85
2839 15.78
2071 6.50
1908 4.50
1440 3.25
920 1.90

Dubai real estate monthly Sales in 2022

month No. of deals Sales value(billion dirhams)
1 5732 16.46
2 6307 16.22
3 8370 22.38
4 6949 18.18
5 6603 18.15
6 8807 22.60
7 7145 20.94
8 9721 24.29
9 8640 24.27
10 8634 25.30
11 11091 30.77
12 9493 2605

Source: DLD data


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