Dhs180bln real estate sales in Dubai in 9 months


  • Highest quarterly sales for Dubai property in Q3
  • Unprecedented performances in September
  • Walid Al Zarooni: Dubai’s real estate market booming with broken records

Dubai – UAE: A survey by Dubai-based real estate brokerage W Capital has revealed the upward trajectory of Dubai’s real estate sector with a new record number of sales in the first nine months of 2022. The total value of properties sales exceeded 180 billion dirhams, with more than 67,000 transactions, making it the highest sales value ever recorded during this period, according to the latest data published by DLD.

For the first time, the value of real estate sold for the period from January 1 to September 30 of each year exceeded 180 billion Dhs, against 116 billion Dhs, the highest number of sales recorded in 2009, followed by 102 .6 billion Dhs last year 2021.

Monthly sales from early September 2022 to date saw a 76% year-over-year increase compared to its counterpart last year.

September 2022 also saw the highest total value of real estate sales transactions in the emirate of Dubai, exceeding MAD 21 billion to date, spread over approximately 7,425 transactions, the highest value ever recorded. for the month of September, followed by monthly sales. from Dhs16bn last year, then Dhs12.6bn. in 2013.

The third quarter of this year saw the highest quarterly sales value ever, exceeding 68 billion dirhams, spread over more than 25,000 transactions.

The data showed a 9.2% increase in deals in the third quarter and a 13% increase in deal value. The third quarter also showed a remarkable performance and achieved a 55% increase in volume and 60% in value year-over-year compared to the third quarter of 2021.

Waleed Al Zarooni, CEO of W Capital, said the real estate market in Dubai continues to break records every time, registering new highs never seen before in terms of sales value and number of transactions. This is a strong indication of the continuation of the momentum and outstanding performance that began since the end of last year, and strong evidence of the growing investment appetite for the property sector in the emirate.

“The real estate market has achieved unprecedented performance since the beginning of this year. It posted a new high in Dubai’s history during the month of September,” the CEO said. in light of expectations of positive indicators in the remaining months of this year, with record recovery and prosperity and steady growth in property sales expected to exceed 230 billion dirhams by the end of 2022,” he said. -he adds.

Al Zarooni pointed out that Dubai’s property market continues to receive great support from the unlimited facilities and qualitative initiatives launched by the emirate’s government, represented in expatriate support policies, new residency and residency laws. entrepreneurs and investors, in addition to the infrastructure that has made Dubai a global hub for property investors. And cemented its position at the forefront of global destinations as the best place to live, work and invest.

He explained that the increase in the yield of real estate investment by a large percentage has encouraged the influx of foreign investors to buy, adding that the market has witnessed a drastic change, especially with the noticeable change in investments during years, as it attracted foreign investors and capital after focusing on local investors. The sector has seen a significant increase in the sale of luxury and distinctive properties in conjunction with the increase in investment by the wealthy, thanks to the state-of-the-art infrastructure in addition to the distinguished lifestyle which includes the best hotels and restaurants in the world and exceptional amenities.

Al Zarooni pointed out that ‘Dubai Expo 2020’ has had the greatest impact in promoting good investment and residency in Dubai and increased the demand for buying real estate.

“Despite the significant rise in prices, there is still an opportunity to acquire a property with the aim of investing and earning a good return, as the sector benefits from the growth of GDP, supported by the growth of the economy. oil and non-oil in the United Arab Emirates,” Al Zarooni continued.

The first 9 months of sales 2000-2022

Sales / Bn Dhs

Number of offers

Year

180.72

67178

2022

102.64

42556

2021

48.63

23404

2020

54.43

26404

2019

55.79

24381

2018

88.18

35833

2017

74.98

29549

2016

95.17

34992

2015

101.72

41180

2014

91.87

42632

2013

48.86

25196

2012

45.94

23488

2011

66.27

38840

2010

115.83

72689

2009

91.29

16764

2008

31.15

5548

2007

13.07

1751

2006

12.65

2142

2005

8.78

2183

2004

4.42

1512

2003

3.41

1536

2002

2.60

1075

2001

1.16

696

2000

* data available until 27-9-2022
-source: DLD

September sales 2000 – 2022

Sales / Bn Dhs

Number of offers

September

9:41 p.m.

7425

2022*

16.12

5721

2021

8.34

3718

2020

6.11

3661

2019

5.22

2665

2018

8.14

3043

2017

4.89

2261

2016

11.05

3817

2015

10.80

4094

2014

12.59

6753

2013

5.95

3099

2012

3.94

2327

2011

3.28

1797

2010

6.19

4391

2009

10.63

1792

2008

5.58

1049

2007

1.53

199

2006

1.01

172

2005

0.946

226

2004

0.343

201

2003

0.234

113

2002

0.336

114

2001

0.085

49

2000

* data available until 27-9-2022
-source: DLD

-Ends-

About “W Capital”:

“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, purchase, sale, rental as well as advisory services for real estate companies.

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

About Walid Al-Zarooni:

Walid Al-Zarooni is the founder and chairman of W Capital Real Estate Brokerage. 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 awareness about real estate. He provides almost free advice on a daily basis, as well as the 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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