In 2023, the Dubai Land Department (DLD) celebrated an unprecedented achievement, recording a staggering 1.6 million transactions across various real estate activities. This remarkable figure represents a substantial increase of 16.9% compared to the previous year, highlighting Dubai’s robust real estate market.

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Marwan bin Ghalita, Acting Director General of the DLD, proudly announced these exceptional results, underscoring the department’s unwavering commitment to bolstering the emirate’s economy. He emphasized Dubai’s ambition to become the most dynamic economy globally, reflecting the city’s resilience and adaptability in the face of challenges.

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Bin Ghalita revealed that the total value of real estate transactions surpassed AED 634 billion in 2023, with over 166,400 transactions recorded. This signifies a remarkable 20% growth in value and an impressive 36% increase in the number of transactions compared to the previous year. Notably, real estate investments experienced a remarkable surge, with their value soaring by 55% to approximately AED 412 billion. The number of investments attributed to 113,655 owners, including 71,002 new investors, saw a notable 20% rise.

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Furthermore, the percentage of non-resident investors surged to constitute 42% of the total new investors, indicating Dubai’s enduring appeal as a global investment hub. Bin Ghalita reiterated that these outstanding results demonstrate Dubai’s unwavering commitment to becoming a global leader in attracting real estate investment, aligning with the ambitious objectives outlined in the Dubai Economic Agenda (D33).

The D33, unveiled by His Highness Sheikh Mohammed bin Rashid Al Maktoum, aims to position Dubai among the world’s top three urban economies. Bin Ghalita expressed satisfaction with the outcomes for 2023 and reaffirmed the DLD’s pledge to support the industry’s future expansion and advancement.

The DLD’s annual figures also shed light on the diverse investor base contributing to Dubai’s real estate sector’s growth. Gulf investors accounted for AED 30.75 billion in investments, followed by Arab investors with AED 29.23 billion. Foreign investors significantly contributed AED 276.28 billion, underscoring Dubai’s global appeal as an investment destination.

Notably, the presence of female investors in Dubai’s real estate market is on the rise. By 2023, there were 38,059 female investors, with their investments generating AED 90.5 billion in revenue. This represents a substantial increase compared to the previous year, highlighting the growing participation of women in Dubai’s real estate sector.

These impressive figures reflect the renewed optimism surrounding Dubai’s real estate market and its long-term growth potential. The DLD remains steadfast in its commitment to supporting the industry through streamlined services, efficient regulations, and cutting-edge digital infrastructure, ensuring its sustainability and preparedness for the future.

By embracing innovation and fostering a conducive environment for investment, Dubai continues to solidify its position as a global real estate powerhouse, offering unparalleled opportunities for investors worldwide.