Dhs130.bn Dubai real estate sales in 7 months

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Dhs130.bn Dubai real estate sales in 7 months

  • A new record number of  real estate sales in July
  • The  Dubai real estate sector  has broken records for sales and transactions

Walid Al Zarooni

Dubai, United Arab Emirates,Sunday, July 24th, 2022:“W Capital Real Estate Brokerage” report assessed the strong momentum and exceptional performance of the real estate market in the Emirate of Dubai, in the first seven months of 2022, exceeding Dhs130bn,with 48.000 transactions, thus making the largest sales value ever during that period, according to the latest data issued by the DLD.

The value of real estate units sold in Dubai for the period from January 1 to July 31 of each year exceeds Dhs100bn for the second time .The first time was in July 2009 when real estate sales recorded a value of about Dhs103bn.

The month of July 2022 ,also recorded the highest total value of real estate sales deals in the Emirate of Dubai, with a value of more than Dhs16bn, a result of about 5,359 deals, which is the highest value ever for the month of July, followed by monthly sales of Dhs15.4bn in 2009.

The value of monthly sales during July 2022 recorded an increase of about 44% on an annual basis compared to July 2021, which exceeded Dhs11bn, resulted from 4,414 real estate deals.

Walid Al Zarooni, Chairman of W Capital, said that the real estate sector in Dubai continues to break records in terms of sales and transactions time after time, which is a strong indication of the continued momentum and exceptional performance that started since late last year, and a strong evidence of Dubai real estate market attracting more investments.

Al Zarooni said that the real estate market has recorded unprecedented performance since the beginning of this year, amid record growth in demand driven by a number of positive factors. The expert’s expectations for positive indicators to continue so as to achieve steady growth in real estate sales to exceed Dhs230bn by the end of the year.

Walid Al Zarooni pointed out that this strong performance of the real estate market in recent months is due to foreign investors in light of the increasing demand, the high real estate prices and the high return on investment by a large percentage that encouraged the influx of foreign individuals to buy thanks to the stimulating measures, unlimited support and quality initiatives launched by the Dubai government recently. These included the policies supporting expatriates, the new residency rules, and the residence of entrepreneurs and investors, which contributed to strengthening Dubai’s position at the forefront of global destinations as the best place to live, work and invest.

Al Zarooni pointed out that the Dubai Expo 2020, event ending late March, had the greatest impact in promoting the good investment and residence in Dubai and increased the demand for buying real estate units.

He revealed that the real estate market in Dubai has witnessed a radical change, especially in the past few years that witnessed a remarkable shift in investments, as attracted foreign investors and capitals after it was focused on local investors. There was significant increase in the sale of luxury and distinctive properties in conjunction with the increase in the investments of owners wealth, high income, thanks to the presence of advanced infrastructure along with a distinguished lifestyle that includes the best hotels and restaurants in the world and the exceptional amenities Dubai offers, which made it the best destination for work, live and invest.

Dubai properties first 7 months sales (2000-2022)

The YearTransaction value – billion dirhamsNumber of transactions – deals
2022130.448311
20217231261
202035.817363
201944.4120701
20184620103
201770.7128895
201659.524094
201574.327606
201482.533136
201373.8132729
201239.820275
201138.719463
201057.6333817
200910360337
200870.6612404
200721.413661
200610.551406
200510.771861
20047.141781
20033.891199
20023.061343
20012.05870
20000.988606

Source: DLD data

Dubai real estate sales in July (2000-2022)

The YearTransaction value – billion dirhamsNumber of transactions – deals
202216.315406
202111.254414
20204.562359
20197.273670
20186.292748
20177.774000
201611.153924
20159.783817
201410.023344
201313.125037
20125.383086
20115.12925
20104.793244
200915.379581
200812.312599
2007833880
20061.07161
20050.823169
20041.16236
20030.710194
20020.334137
20010.393139
20000.15784

Source: DLD data

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About “W Capital”:

“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.

Since its inception, the company has sold over AED 200 million of properties to major developers.

About Walid Al Zarooni:

Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.

Al Zarooni is one of the first experts to harness social media to raise the public awareness about  real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as ” Instagram “,“ Snapchat ” and “Twitter”, on which he is very active.

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