Dubai Weekly Real Estate News 29/01/23

Good news as always, a total of 2,786 real estate transactions worth over AED 8.4 billion were conducted during the week ending 27th January, 2023, according to figures released by the Dubai Land Department (DLD).

The DLD report showed that 285 plots were sold for AED 1.7 billion, while 2,043 apartments and villas were purchased for AED 4.43 billion.

Now, let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below.

Property News This Week


Dubai property: Top three areas where expats prefer to buy apartments

Dubai’s property market has experienced a record-breaking year, with registered sales in 2022 reaching Dh208bn ($56.63 billion), data released by the emirate’s land department shows.A total of 86,490 residential sale transactions were recorded, beating the previous record of 80,000 in 2009, a year of property boom.

Real estate transactions in Dubai continued to grow robustly in 2022

Residential transaction activity in Dubai continued to grow robustly last year, with transaction volumes in the emirate up 51 per cent between January and November 2022 while the value of transactions rose by 55 per cent, data from Dubai Pulse showed.

The Dubai Land Department issued a total of 9,047 real estate permits and 6,479 real estate licences in 2022

The high growth in permits and licences reflects the growing demand from real estate investors across the world driven by Dubai’s strong growth outlook and the prospects of high returns in the local market. The growth also reflects the Dubai Land Department’s efforts to provide high-quality services, further enhance the competitiveness of the real estate market and ensure the protection of all stakeholders.

Danube Properties unveils $3.81bln project in JLT, Dubai

Danube Properties on Friday unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding Dh1.4 billion.

Dubai’s Business Bay sees highest number of real estate transactions in 2022

Boosted by the strong prospects for sustainable economic and real estate market growth, areas across Dubai saw high levels of real estate transactions in 2022.

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