W Capital: Dubai real estate sales to exceed Dhs300bln in 2023

W Capital: Dubai real estate sales to exceed Dhs300bln in 2023

Dubai, United Arab Emirates: The Dubai-based real estate brokerage W Capital expected the Dubai real estate sector sales to make a new record exceeding Dhs300bn in 2023, based on the available figures so far.

Dubai real estate sector sales have exceeded Dhs12bn since the beginning of this year, amid unprecedented exceptional performance with the vibrant demand.

Dubai Land Department data showed that the sales value - which is the largest ever during the same period - is the result of more than 43,000 sales deals.

“Real estate market data indicate the ever lasting momentum, and the possibility of breaking last year’s records , boosted by the turnout of the global wealthy,” said Walid Al Zarooni ,W Capital CEO.

Al Zarooni stated that total real estate sales in Dubai during 2022 grew by 78.3% to Dhs265.6bn, which is the highest annual value ever in the history of the real estate market in the emirate, distributed over more than 97.48 thousand deals.

He explained that there are huge deals on an almost daily basis, with values over a million dirhams ,with few exceeding a billion dirhams. Many new projects are being sold off plan within 24 hours or a maximum of two weeks.

Walid Al Zarooni indicated that