In 2022, Dubai’s yearly real estate transactions for the first time exceeded the milestone of half a trillion dirhams. The sector had transactions at a record Dh528 billion in 2022, a 76.5 percent rise from 2021, as it continued on its exponential growth trajectory.
The extraordinary performance of the real estate market reflects His Highness Sheikh Mohammed bin Rashid Al Maktoum’s goal of elevating Dubai to the status of one of the top three cities on the planet.
The outcomes also help the Dubai Economic Agenda D33’s objective of tripling Dubai’s GDP by 2033. The industry is an important tenet of Dubai’s sustainable development strategy and a crucial component of its 2040 Urban Master Plan.
In the emirate, 122,658 real estate transactions were recorded in total in 2022, up 44.7% from 2021. In the preceding year, 115,183 new real estate investments worth Dh264.15 billion were registered by 80,216 investors, representing a volume and value growth of respectively 59.5 percent and 76.4 percent. Compared to 2021, there were 53% more investors in 2022.
The expansion of the real estate industry reflects Dubai’s growing status as the “city of the future” and serves as a significant entry point to some of the world’s most rapidly expanding emerging economies.
Dubai has become a significant international trade and investment center thanks to its cutting-edge logistical services, business-friendly environment, and capacity to draw talent and encourage innovation, high levels of ease of doing business, and excellent safety and stability.
Despite the difficult global economic climate, Dubai’s economy continues to grow strongly. The emirate’s GDP increased by 4.6% annually in the first nine months of 2022, reaching Dh307.5 billion. 32 trillion dirhams in total economic aims are set forth in the recently unveiled Dubai Economic Agenda D33.
The emirate’s real estate market has shown that it is capable of maintaining its rapid expansion and increasing its allure as an investment magnet. The sector is expected to experience even more growth in the future thanks to close collaboration between public and private partners.
We released our Strategic Plan 2026 at the beginning of 2023. It lays out a roadmap for making Dubai one of the best real estate markets in the world by ensuring efficient governance, encouraging innovation, utilizing cutting-edge technology to develop novel real estate solutions, and developing a data-driven industry that fosters investor confidence.