UAE: DLD marks strongest performance ever with 1.6mln transactions

  • Date: 07-Feb-2024
  • Source: Zawya
  • Sector:Real Estate
  • Country:UAE
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UAE: DLD marks strongest performance ever with 1.6mln transactions

The Dubai Land Department (DLD) has achieved an all-time high of 1.6 million transactions across various real estate activities ranging from real estate transactions to rental agreements in 2023. This represents a remarkable growth of 16.9 percent compared to 2022, which accounted for approximately 1.368 million transactions.

Announcing details of the record-breaking performance, Marwan bin Ghalita, Acting Director General of the DLD, emphasised the department’s renewed commitment to supporting the goal of the emirate and the UAE to build the world’s most active economy.

Bin Ghalita said, “The value of real estate transactions exceeded AED634 billion with the number of transactions reaching over 166,400 real estate transactions in 2023. This marked a growth of 20 percent in value and 36 percent in terms of the number of transactions compared to 2022. Real estate investments also showcased exceptional performance, with their value growing by 55 percent during the same period, reaching approximately AED412 billion. There were 157,798 investments attributed to 113,655 owners, including 71,002 new investors, indicating a 20 percent increase. Additionally, the percentage of non-resident investors rose to constitute 42 percent of the total new investors.

The record-breaking results indicate the strength and versatility of Dubai’s economic performance, Bin Ghalita stressed. The impressive