Dubai’s real estate sector has witnessed strong performance since the beginning of this year, and the projects offered varied between residential and commercial complexes and towers, in addition to office spaces, to keep pace with the increase in the number of companies and projects.
According to the Dubai Land Department, the real estate sector attracted 50,000 new investors during the same period, and the department achieved strong results, after the value of real estate transactions reached 346 billion dirhams, a growth of 23%, through the implementation of 100,520 transactions.
The emirate acquired the largest share of the number of new real estate projects in the country, as more than 12 projects were launched by major real estate companies. A real estate report revealed that the total real estate transactions in Dubai last July amounted to 15,994 transactions, representing a 43.2% increase in volume, compared to the same month last year. Apartment sales showed the largest increase, as the number of units sold reached 12,429 units, a monthly increase of 59.1%, and a value of 22.3 billion dirhams.
Total villa sales reached 2,336 units worth AED 14.3 billion last month, an increase of 8.6% from July 2023, while the number of commercial real estate transactions reached 386 transactions worth AED 869.5 million, a monthly increase of 27.4% from 2023.