Real estate transactions in Dubai rose 61% since 2021 and surpassed AED 240bln

Real estate transactions in Dubai rose 61% since 2021 and surpassed AED 240bln

Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, cites that Dubai real estate market transactions rose by 61% since 2021, exceeding AED 240 billion through 2022. The multi-award-winning real estate company attributes this growth to a maturing market where people are looking to stay in the emirate for longer durations, and an ongoing post-lockdown trend where demand for villas and townhouses is skyrocketing.

While this increased demand for new real estate developments is offering investors a wider range of options, it is projected to outperform supply in the coming year; this follows a trend where many of the projects that have been launched post-pandemic are not expected to be handed over until 2024 and beyond. The Dubai Land Department (DLD) recently announced a new strategic plan that will bolster the sector’s momentum through 2026 and align with the national agenda to build a better economy.

The DLD’s new strategy, which was approved by HH Sheikh Mohammed bin Rashid Al Maktoum and is currently being finalized, will aid the UAE in becoming a world leader in real estate investments; quick-gain initiatives will be launched to ensure that the DLD adapts to the proposed changes, necessary support will be provided to