Dubai sees completion of 55 real estate projects worth AED11.9 billion in 2022

Dubai sees completion of 55 real estate projects worth AED11.9 billion in 2022

DUBAI, 18th January, 2023 (WAM) -- Dubai’s real estate sector ended another exceptional year with annual transactions setting new records, marking the sector as a major contributor to the goals of the Dubai Economic Agenda D33 announced recently by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

The Agenda outlines ambitious economic goals including doubling the size of Dubai’s economy over the next decade and consolidating its position as one of the world’s top three cities.

Dubai’s annual real estate transactions crossed the AED 500 billion milestone for the first time with 122,658 real estate transactions in 2022, valued at AED528 billion. The past year also saw the completion of 55 real estate projects worth AED11.9 billion, a growth of 57 percent and 8 percent in value.

A total of 350 real estate projects are currently being developed, reinforcing Dubai's status as one of the world’s leading real estate investment destinations. The record results also signify the sector’s ability to maintain sustainable high growth, and the exceptional governance it has maintained under the directives of the leadership.

The Dubai Land Department (DLD) has worked to enhance the real estate investment environment by providing seamless services, introducing