Dubai real estate remains rare bright spot amid global economic doom

Dubai real estate remains rare bright spot amid global economic doom

In the third quarter of 2022, Dubai’s real estate market witnessed the highest performance for a quarter in 12 years.

Each month in Q3 recorded the highest transaction over ten years, according to the latest quarterly report from Property Finder.

Published: Mon 21 Nov 2022, 5:39 PM

A combination of high oil prices, the UAE government’s forward-looking policies, spillover of mega projects in the wider GCC region, are all factors that will ensure that Dubai’s real estate market will continue to attract investors from around the world, Mohamad Kaswani, managing director of Mortgage Finder, told Khaleej Times on Monday.

“Dubai remains one of the few bright spots for property investors as uncertainty surrounding the wider global economy. Historically, we have seen that high oil prices are also boosting sentiment. In addition, the city’s continuous investments in an innovative ecosystem are continuing to create more jobs and attract more people to the city,” Kaswani said on the sidelines of Cityscape Global, the annual real estate exhibition that started in Dubai on Monday.

In the third quarter of 2022, Dubai’s real estate market witnessed the highest performance for a quarter in 12 years. Registered sales reached 25,456 transactions compared to 15,744 transactions in Q3 2021, a sharp