Dubai’s annual real estate transactions cross $136.13bln in 2022

Dubai’s annual real estate transactions cross $136.13bln in 2022

DUBAI - Dubai's annual real estate transactions have crossed the milestone of half a trillion dirhams for the first time in 2022, as the sector witnessed transactions worth a record AED528 billion in 2022, a 76.5 percent increase from 2021.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said, "The exceptional performance of the real estate sector reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai one of the world’s top three cities. The results also support the goal of the Dubai Economic Agenda D33 launched by His Highness to double the size of Dubai's economy by 2033. The sector is a key pillar of Dubai's strategy for sustainable development and a vital driver of its 2040 Urban Master Plan.”

“Dubai remains one of the world's most attractive investment destinations due to its stable economy, strong financial fundamentals and ability to constantly find new opportunities for growth. Moreover, global investors, institutions and businesses continue to have high confidence in Dubai’s economy due to its growing profile as one of the best metropolises to live and work, its