2023-10-31 19:00:00
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 that real estate transactions in the emirate reached 116,116 real estate transactions with a total value of 429.67 billion dirhams, in an indication of the sustainability of growth and great flexibility in the emirate’s real estate market, thanks to the vision and directives of the leadership, Dubai’s global status and its advanced infrastructure, which has become an important pillar. For the comprehensive development process witnessed by the emirate at all levels.
During the aforementioned period, real estate investments witnessed steady growth following registering 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 investments. Investors, which confirms Dubai Land Department’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, and establishing effective partnerships and a pioneering digital infrastructure that contributes to attracting real estate investments on a large scale.
Women’s investments represented 32,557 investments out of the total investments, with a value of 62.38 billion dirhams, owned by 27,120 thousand 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.
With regard to the top 10 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 list with 10,351 transactions, followed by the areas: “Dubai Marina” with 9,071 transactions, and “Business Bay” with 7,414 transactions. “Wadi Al Safa 5” has 5602 transactions, “Al Mirkaad” has 5538 transactions, “The Fifth Thaniya” has 5437 transactions, “Burj Khalifa” has 5220 transactions, “The First Creeks” has 4567 transactions, and “Sheikh Mohammed bin Rashid Gardens” has 4195 transactions. And “Jebel Ali First” 3737 transactions.
The “Dubai Marina” area took the lead in the top 10 areas in terms of the value of real estate transactions, with a total of 36.7 billion dirhams, followed by the areas: “Palm Jumeirah” with 28.51 billion dirhams, “Jebel Ali Industrial First” with 27.93 billion dirhams, and “Wadi Al Safa 3.” » 25.33 billion dirhams, “Business Bay” 20.08 billion dirhams, “Burj Khalifa” 17.86 billion dirhams, “Al Mirkad” 14.53 billion dirhams, “First Layers” 13.81 billion dirhams, and “Sheikh Mohammed bin Rashid Gardens” 13.6 billion dirhams. dirhams, and “Jebel Ali First” 12.91 billion dirhams.
In terms of the top 10 areas in terms of the number of mortgages, “Dubai Marina” came in the lead with 1,186 mortgages, followed by “Al Thanyah Fifth” with 879 mortgages, “Al Barsha South Fourth” with 879 mortgages, and “Burj Khalifa” with 874 mortgages. “Jebel Ali First” has 789 mortgages, “Al Awir First” has 743 mortgages, “Sheikh Mohammed bin Rashid Gardens” has 665 mortgages, “Business Bay” has 652 mortgages, “Wadi Al Safa 5” has 629 mortgages, and “Palm Jumeirah” » 526 mortgage.
The “Jebel Ali Industrial Zone I” topped the list in terms of the value of mortgages at regarding 27.78 billion dirhams, followed by the areas: “Wadi Al Safa 3” with 14.97 billion dirhams, “Jebel Ali First” with 6.96 billion dirhams, and “Palm Jumeirah” with 6.19 billion dirhams. “Dubai Marina” 5.02 billion dirhams, “Business Bay” 4.11 billion dirhams, “Al Mirkaad” 3.45 billion dirhams, “Al Khiran First” 3.04 billion dirhams, “Al Barsha South Fourth” 2.41 billion dirhams, and “Burj Khalifa.” 2.24 billion dirhams.
• 27.12 thousand women own 32.5 thousand investments worth 62.38 billion dirhams.
• 109 thousand new real estate investments worth 278.7 billion dirhams owned by 81.6 thousand investors.
Sustainable positive results
The Director General of the Dubai Land Department, Sultan Butti bin Mejren, 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, according to the Agenda. An ambitious and proactive economic development that enhances the emirate’s competitiveness and attractiveness to global investments.
Bin Mejren said: “The real estate sector not only contributes 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 regarding qualitative shifts in sustainable development.”
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