Dubai sees completion of 9 real estate projects in H1’23

Dubai sees completion of 9 real estate projects in H1’23

DUBAI: Dubai witnessed the completion of nine real estate projects worth AED4.06 billion in H1 2023. According to data issued by the Dubai Land Department (DLD), 392 real estate projects are currently being developed in the emirate.

The latest figures further validate Dubai’s status as one of the world’s leading real estate investment destinations and the sector's ability to sustain its growth over the long term. They also support the leadership strategic vision for economic development and the ambitious goals outlined by the Dubai Economic Agenda D33.

In other figures that demonstrate the continued confidence of local and international investors in Dubai’s real estate market, the first half of the year witnessed the registration of 42,583 real estate units. During this period, 47,187 units worth AED96 billion, and 5,546 villas worth AED15 billion were sold. The number of real estate developers registered in DLD’s database reached 174.

The rental market in Dubai saw a robust performance in the first half of the year. Total lease contracts registered in the first half reached 355,515. Among these contracts, 166,368 were new contracts, while 189,147 were lease renewals. Efficient and proactive services, a well-developed and supportive infrastructure and the market’s inherent sustainability and resilience were key