Dubai, UAE — Dubai recorded 116,116 real estate transactions worth AED 429.67 billion ($116.98 billion) during the first nine months of 2023, recording more than 36.7 percent in value and 33.8 percent in the number of transactions compared to the same period in 2022.
Real estate investments also witnessed steady growth during the first three quarters of the year, with 81,669 investors registering 109,186 real estate investments worth AED 278.7 billion, a growth of 50.3 percent in value, 33.3 percent in the number of investments, and 37.4 percent in the number of investors.
Dubai Land Department data reveals that 27,120 women registered 32,557 investments worth AED62.38 billion, recording a growth of 36.1 percent in investments, 53.8 percent in value, and 38.2 percent in terms of the number of female investors, compared to the same period in 2022.
In the first nine months of 2023, Al Barsha South Fourth topped the list of top 10 areas based on transactions with 10,351 transactions, followed by Dubai Marina (9,071), Business Bay (7,414), Wadi Al Safa 5 (5,602), Al Mirkadh (5,538), Al Thanyah 5 (5,437), Burj Khalifa (5,220), Al Khiran First (4,567), Hadaeq Mohammed bin Rashid (4,195), and Jebel Ali First (3,737).
The top 10 areas in terms of transactional value include Dubai Marina, which tops the list with transactions worth over AED36.7 billion, followed by Palm Jumeirah (AED28.51 billion), Jebel Ali Industrial First (AED27.93 billion), and Wadi Al Safa 3 (AED25.33 billion), Business Bay (AED20.08 billion), Burj Khalifa (AED17.86 billion), El Merkadh (AED14.53 billion), Al Khairan First (AED13.81 billion), Hadaeq Mohammed bin Rashid (AED13.6 billion), and Jebel Ali First (AED12.91 billion).
Dubai Marina ranked first among the top 10 areas in terms of mortgages with 1,186, followed by Al Thanyah Fifth (879), Al Barsha South Fourth (879), Burj Khalifa (874), Jebel Ali First (789), Al Awir First (743), Hadaeq Mohammed bin Rashid (665), Business Bay (652), Wadi Al Safa 5 (629), and Palm Jumeirah (526).
Jebel Ali First area topped the list in terms of the value of mortgages (AED27.78 billion), followed by Wadi Al Safa 3 (AED14.97 billion), Jebel Ali First (AED6.96 billion), Palm Jumeirah (AED6.19 billion), and Dubai Marina (AED5.02 billion).), Business Bay (AED4.11 billion), El Merkadh (AED3.45 billion), Al Khairan (AED3.04 billion), Al Barsha South Fourth (AED2.41 billion) and Burj Khalifa (AED2.24 billion).
Sultan Butti bin Mejren, Director-General of DLD, said, “Dubai has effectively embraced ambitious real estate strategies, pioneering methodologies, and cutting-edge technologies. These initiatives have significantly enhanced transparency and fostered trust among a diverse range of local and international investors. Dubai continues to offer its residents a high quality of life and world-class services. We are steadfast in our commitment to raising service and quality benchmarks in the real estate sector, serving as a model for the world’s advanced cities.