Dubai real estate’s growth momentum likely to continue by year-end – Sobha Realty Co-Chairman

Dubai real estate’s growth momentum likely to continue by year-end – Sobha Realty Co-Chairman

The growth momentum in Dubai’s real estate sector will persist for the rest of 2023, with market consolidation projected for next year, Ravi Menon, Co-Chairman of Sobha Realty, told Zawya Projects.

“At present, in the first half of 2023, the market is already at 30-40 percent growth over the first half of last year, and we expect this momentum to continue for the rest of 2023 as well,” he stated, adding the emirate is well-positioned to address future challenges and maintain its upward trend going forward.

Menon affirmed that the company has achieved its sales and financial targets for the first half of 2023 without disclosing specific financial numbers.