Dubai real estate is set to record the highest sales ever in the first 8 months of 2022
*Dubai real estate sales experience great momentum in August, achieving the best monthly performance ever
*The real estate sector continues to break records for both sales value and number of transactions,Walid Al Zarooni
Dubai, United Arab Emirates
Sunday, August 28, 2022
Analysis done by the Dubai-based real estate brokerage company, W Capital, showedthat theDubai real estate sector isbreaking new records during the first eight months of 2022, with sales value nearing Dhs156bn, with more than 58,000 transactions, making it the largest sales value ever during Augusts, according to the latest data issued by the Dubai Land Department DLD.
The sales value of Dubaireal estate from January First to August 31 exceeds Dhs150bn, for the first time,whereas, it exceeded the Dhs100bn barrier the last time ,was in 2009 when real estate sales recorded a value of about Dhs110bn.
The month of August 2022 also witnessed the highest total value of real estate deals, reaching nearly Dhs21bn to date, distributed over about 8,400 deals, which is the highest value ever for the month of August, followed by sales of Dhs14.8bn in the same month last year.
The value of monthly sales since the beginning of August 2022 until now has recorded an increase of 41% on an annual basis compared to its counterpart last year.
“The real estate market in Dubai continues to break records time after time and month after month, achieving a new level in terms of sales. This is a strong indication of the continued momentum and exceptional performance that started late last year and is a strong evidence of the increasing investment attractiveness enjoyed by the real estate sector in the emirate,” said Walid Al Zarooni, Chairman of W Capital .
Al Zarooni explained that the real estate market has achieved an unprecedented performance since the beginning of this year, setting another record in Dubai history during the month of August, amid record growth in demand driven by a number of positive factors, in light of expectations of positive indicators to stay during the remaining four months of this year. A steady growth wasrecorded in real estate sales to exceed Dhs230bn by the end of 2022.He pointed out that the sector is experiencing a state of renewed momentum and recovery, supported by unlimited facilities in residency laws, which contributed to enhancing Dubai’s position as an ideal destination for living, working and investing.
Walid Al Zarooni said 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 increase in the return on investment by a large percentage that encouraged the influx of foreign investors to buy thanks to the stimulating measures, unlimited support and qualitative initiatives recently launched by the emirate government specially the measures that support expatriates, new residency laws, and the residence of entrepreneurs and investors, in addition to the top quality infrastructure that made Dubai the global forefront in real estate investments, which contributed to strengthening Dubai’s position as a global destinationfor living working and investing.
Al Zarooni noted that ” Dubai Expo 2020 ” had the greatest impact in promoting the good chances of investment and residence in Dubai and increased the demand for real estate purchases.
He revealed that the real estate market in Dubai has witnessed a radical change, especially in the past few years that experienced a remarkable shift in investments, as it has attracted foreign investors and capital after it was focused on local investors, to witness a significant increase in the sale of luxury and prime properties in conjunction with the increase in the investments of rich and high income individuals, thanks to 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, life and investment.
Despite the significant rise in prices, there is still an opportunity to acquire a property for the purpose of investing and achieving good return, as the sector benefits from the growth of GDP, thanks to the growth of the oil and non-oil sectors of the UAE economy.
First 8 months sales in Dubai real estate
|The year||Deals value/bn||Number of deals|
source :DLD data
August real estate sales annually 2000-2022
|August||Sales Value/bn||Number of deals|
source: DLD data
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