The real estate market in Dubai continues to boom in terms of the number and values of sales for three years, achieving about 828.5 Billion Dirhams ($225.8 Billion), resulting from 291,438 deals during the 3 years (2021-2023) that followed the “COVID 19” pandemic, according to data published by ” Digital Dubai ”.
Dubai Land Department data showed that real estate sector sales recorded a strong jump during the past three years, as the year 2023 achieved approximately 411.7 Billion Dirhams (133,124 transactions), with a growth of 55% and 36% in terms of value and number, respectively, compared to 2022, which recorded 266.25 Billion Dirhams ( 97,392 deals), an increase of 173.5% and 118.5% compared to 2021, in which sales amounted to 150.5 Billion Dirhams (60,922 deals).
The total value of real estate transactions in the Dubai market over 3 years reached about 1.46 Trillion Dirhams, resulting from 373,648 transactions, including 550 Billion Dirhams for mortgages (66,368 procedures), and 82.8 Billion Dirhams for gifts (15,842 transactions).