Dubai's 2023 Q1-Q3 Real Estate Transactions Reach Dh429.67 Billion

Compared to the same period in 2022, the initial nine months of 2023 witnessed substantial growth in Dubai's real estate market, marked by a 36.7% increase in transaction value and a 33.8% rise in the number of transactions. The Dubai Land Department reported 116,116 real estate transactions amounting to Dh429.67 billion during this time, attributing this growth to the city's global reputation, robust infrastructure, and development-focused leadership.

Real estate investments also exhibited a steady rise, with 81,669 investors engaging in 109,186 investments totaling Dh278.7 billion. The strategic initiatives of the Dubai Land Department to position the city as a global real estate investment hub resulted in a remarkable increase of 50.3% in value, 33.3% in the number of investments, and 37.4% in the number of investors.

Sultan Butti bin Mejren, Director General of Dubai Land Department, stated, "Dubai's real estate sector has set a global example for growth and excellence, playing a pivotal role in advancing the national economy and driving comprehensive development efforts to elevate the emirate's status as a leading economic powerhouse."

The research also highlighted the increasing participation of women in real estate investment, with 27,120 women contributing 32,557 investments totaling Dh62.38 billion, signifying notable growth in both investment value and the number of female investors.

Among the popular real estate regions, Al Barsha South Fourth, Dubai Marina, and Business Bay stood out. In terms of transactional value, Palm Jumeirah and Jebel Ali Industrial First followed Dubai Marina. Dubai Marina led in mortgage transactions, while Jebel Ali First had the highest mortgage value.