For the first time ever, Dubai real estate sales approach AED 400bln this year

For the first time ever, Dubai real estate sales approach AED 400bln this year

Dubai: Dubai-based real estate brokerage company W Capital said that Dubai real estate annual sales are heading to record a new record number, with value exceeding Dhs400bn during the current year for the first time ever, based on data from the Dubai Land Department (DLD).

The value of real estate sales since January 2023 has risen to more than Dhs393, the highest number recorded in the history of the market. There were more than 127.ooo deals, and with a week before the end of the year, it is expected to exceed Dhs400bn,” said Walid Al Zarooni, CEO.

Al Zarooni expected that the historical momentum in the real estate market in Dubai will continue during the next year after the significant growth in the year 2023, while the sector is approaching the fourth year of successive price increases in the third market cycle. It will also be a matter of time to know whether these new records will be broken or not. Demand is expected to continue to grow taking prices to new highs. This momentum is making the Dubai real estate market more attractive for investors of all nationalities around the world.

Walid Al Zarooni stressed that these unprecedented sales embody the strength