UAE real estate set to gain further momentum

UAE real estate set to gain further momentum

The UAE real estate market staged a remarkable growth this year as the global investors reposed trust in the emirate's successful strategy against the Covid-19 pandemic, consistent economic policies, excellent infrastructure, visa, and business reforms by investing more in the property sector, especially in the luxury segment that attracted significant investment.

The emirate has attracted more than Dh170 billion investment in the real estate sector during the first seven months of this year and there is no slowdown in growth momentum despite the government’s efforts to cool down the sector. Dubai real estate sector continues its upward trend and is expected to gain further momentum in months to come on the rising demand for luxury villas as well as apartments and townhouses in prime locations.

The Dubai property market recorded more than 43,000 real estate transactions worth Dh115 billion during the first half of 2022. These remarkable figures show an increase of up to 87 per cent as compared to the first half of the preceding year. June 2022, in particular, proved to be a record-breaking month with nearly 8,900 sales transactions. The combined value of these transactions was recorded to be Dh22.75 billion.

On a similar note, the Abu Dhabi property market