Dubai’s Business Bay sees highest number of real estate transactions in 2022

Dubai’s Business Bay sees highest number of real estate transactions in 2022

Boosted by the strong prospects for sustainable economic and real estate market growth, areas across Dubai saw high levels of real estate transactions in 2022. Dubai’s growing reputation as one of the best cities to live and work, its exceptional infrastructure, supportive regulations have contributed to the trend. Over the last few years, Dubai Land Department has also worked to enhance the real estate investment environment in the emirate by providing seamless services, introducing conducive regulations, fostering a digital ecosystem, consolidating various sources of data through partnerships, and raising the capabilities of its human resources to maintain drive service excellence. In 2022, the Business Bay area recorded the highest number of real estate transactions in Dubai last year with 10,853 transactions, according to the Dubai Media Office. The other areas in the top 10 list of locations that registered the highest number of transactions included Dubai Marina (10,074), Al Barsha South 4 (7,338), Burj Khalifa (6,955), Al Merkadh (6,133), Al Hebiah 5 (5,868), Jebel Ali 1 (5,242), Hadaeq Mohammad bin Rashid (4,777), Al Thanyah 5 (4,590), and Palm Jumeirah (4,183). The Wadi Al-Safa 3 area ranked first in value of transactions in 2022 with over Dhs47.1bn, followed by Palm Jumeirah