Dubai real estate reached AED 528B (USD 143.8B) in 2022

Last year, the real estate sector in Dubai saw transactions worth a record AED 528B (USD 143,8B), which is a 76.5% increase from 2021. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, stated that the amazing performance of the real estate sector in the emirate reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai one of the top three cities in the world. These good indicators also support the aim of the Dubai Economic Agenda D33 to double the size of Dubai’s economy by 2033.

The real estate sector is not only a key element of Dubai’s strategy for sustainable development, but also a vital driving force of its 2040 Urban Master Plan.

In 2022, a total of 122,658 real estate deals were registered in Dubai, which showed an increase of 44.7% from 2021. In addition, last year 80,216 investors registered 115,183 new real estate investments valued at AED 264.15B (USD 72B), which reflects an annual growth of 59.5% in volume and 78.4% in value.

In 2022, the number of investors rose by 53% compared to 2021. According to the statement of Sheikh Hamdan, the emirate remains one of the most attractive investment destinations in the world. The main reasons include strong financial fundamentals, a stable economy, as well as the ability to constantly find new opportunities for growth.

Global businesses and investors continue to have high confidence in Dubai’s economy against the background of its growing profile as one of the best metropolises to live and work, supportive regulations and exceptional infrastructure. In the first nine months of 2022, Dubai’s GDP rose 4.6% year-on-year to reach AED 307.5B (USD 84B).

Early in 2023, the Strategic Plan 2026, which will establish the emirate as one of the best real estate markets in the world, was announced in Dubai. The plan includes effective governance, the development of new real estate solutions by using the latest technologies, promoting innovation, as well as creating a data-driven sector for investment confidence.