Over AED 240bn has been transacted in Dubai’s real estate market, a 61% increase from 2021

One of the top real estate agencies in Dubai, Unique Properties, says that the number of real estate deals in Dubai has gone up by 61% since 2021. They had also stated that it would be over AED 240 billion by 2022. The growth is due to a progressing industry. It is because individuals desire to reside in the Emirate for more extended periods of time. The trend has continued after the lockdown, where the popularity of villas and townhouses is growing at a rapid pace.

The growing market for new real estate advancements gives investors more viable alternatives. Still, it is anticipated that demand will surpass supply in the coming year. This is in line with the fact that many of the projects that have been started since the pandemic are not predicted to be finished until 2024 or later. The Dubai Land Department (DLD) recently unveiled a new planning process. This will boost the pace of the sector through 2026 and fit with the national plan to build a stronger economy.

The DLD’s new approach, approved by HH Sheikh Mohammed bin Rashid Al Maktoum, is currently being finalized. It will help the UAE become a major player in real estate investments worldwide. Quick-gain measures will be launched to help the DLD acclimatize to the suggested amendments. Moreover, the necessary support will be given to ensure a smooth transition. Hence, a lasting impact will be made through an expanded scope of impact that will reach a global real estate system.

Growth of the Real Estate Sector

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ, said: “The DLD’s soon-to-be-activated strategy will breathe new life into the real estate community by providing seamless real estate services, effective legislation and integrated data through partnerships, leading digital infrastructure, and empowered human capital. In 2022, countless record-breaking property transactions took place to strengthen the post-COVID resurgence of UAE real estate. The DLD’s new strategy will help sustain this progress via a modernized approach to help attract further real estate investments over the coming years.”

In 2021, the UAE owned 10.2% of the Middle East and Africa’s (MEA) financial wealth. By 2026, the country is expected to own $1 trillion of MEA’s financial assets. The DLD’s plan to use technology to its full potential will help the country’s economy grow by making it easier to invest. This will be especially applicable in the prime residential sector, where transactions are worth so much more. Unique Properties’ deep understanding of the sector is guiding a number of transactions in Dubai’s residential off-plan market. The award-winning, full-service program provides resale estate, sales and commercial, and rental transactions with experienced professionals at the global level.

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