Dubai records completion of 55 real estate projects worth $3.24bn in 2022

Dubai records completion of 55 real estate projects worth $3.24bn in 2022

A total of 122,658 real estate transactions were conducted in Dubai in 2022, valued at Dhs528bn. The past year also saw the completion of 55 real estate projects worth Dhs11.9bn ($3.24bn), marking a growth of 57 per cent in number and 8 per cent in value. A total of 350 real estate projects are also currently being developed across the emirate. The Dubai Land Department (DLD) has worked to enhance the real estate investment environment of the emirate, reported. It has achieved so by offering supportive regulations, fostering a digital ecosystem, consolidating data sources via partnerships and raising the capabilities of its human resources. The number of real estate developers registered in DLD’s database in 2022 reached 140, while the number of registered real estate brokers reached 12,989. A total of 5,703 new brokers, who registered in the emirate last year, contributed to 24,824 procedures, representing a value of Dhs5.33bn. Additionally, the number of registered real estate brokerage offices reached 1,391, while 78 real estate evaluators were registered with DLD, 12 of whom were new. The number of registered real estate valuation offices reached 42, including two new offices, while the number of real estate offices reached 2,704. The past