Dubai’s real estate sector sees transactions worth AED157 billion in the first quarter of 2023, an 80% rise from Q1 2022

Dubai’s real estate sector sees transactions worth AED157 billion in the first quarter of 2023, an 80% rise from Q1 2022

DUBAI, 19th April 2023 (WAM) -- H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE, said the outstanding performance of Dubai’s economic sectors reflects the vision and foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the goal of the Dubai Economic Agenda D33 to consolidate the emirate’s position as one of the world’s top three cities.

H.H. Sheikh Maktoum’s comments followed a review of the performance of Dubai’s real estate sector in the first quarter of 2023. The sector recorded a total transaction value of AED157 billion in Q1 2023, an 80% increase from the same period in 2022. The sector had recorded annual transactions worth a total of AED528 billion in the year 2022.

“Dubai’s real estate sector is one of the key drivers of economic growth and a major factor in maintaining Dubai’s position in the global economy,” Sheikh Maktoum said.

“As one of the most important pillars of the economy, the sector is a vital contributor to the emirate’s efforts to achieve the goals of the Dubai Economic Agenda D33.