Business Bay, Dubai Marina, and JVC to drive the Dubai property market in 2023

Business Bay, Dubai Marina, and JVC to drive the Dubai property market in 2023

- Business Bay, Dubai Marina, and JVC remained the top-performing communities in the Dubai Property Market

- A total of 97.4k transactions worth AED 265.7 billion were recorded by Dubai real estate in 2022

- Top areas to buy apartments include Business Bay, Dubai Marina, JVC, Downtown Dubai, Dubai Creek Harbour, and Palm Jumeirah

- Top areas to buy villas include Jabal Ali First, Dubai South, Villanova, Arabian Ranches, Mudon, Dubai Hills, Tilal Al Ghaf, and Emirates Living.

Dubai: With more than 10,300 real estate transactions valuing AED 17.6 billion at an average price of AED 1.2 million, Business Bay led the chart for the highest sales in Dubai in 2022 and the prime area is expected to continue its supremacy in 2023 as well, according to the Zoom Property Insights.

Other communities that are expected to perform well in the new year are Dubai Marina, JVC, and Downtown Dubai. They recorded 7,430, 6,085, and 5,100 transactions worth AED 24.3 billion, AED 5.6 billion, and AED 16.8 billion, respectively, in the preceding year, according to the Zoom Property Insights. This brings the year-end total of 2022 to 97.4k transactions worth AED 265.7 billion.

Ata Shobeiry, CEO of Zoom Property, lauds the property market’s remarkable performance in