Real estate transactions in Dubai achieved significant growth in the first nine months of 2023, recording a growth of more than 36.7 percent in value and 33.8 percent of transactions compared to the same period in 2022.
Dubai Land Department (DLD) data also revealed that 116,116 real estate transactions worth Dhs429.67 billion, were recorded in Dubai in this period, a testament to the enduring growth and adaptability of the emirate’s real estate market.
Real Estate: From Dubai Marina to Palm Jumeirah, best locations in Dubai
In the first nine months of 2023, Al Barsha South Fourth topped the list of top 10 areas based on transactions with 10,351 transactions, followed by:
- Dubai Marina (9,071)
- Business Bay (7,414)
- Wadi Al Safa 5 (5,602)
- Al Mirkadh (5,538)
- Al Thanyah 5 (5,437)
- Burj Khalifa (5,220)
- Al Khiran First (4,567)
- Hadaeq Mohammed bin Rashid (4,195)
- Jebel Ali First (3,737)
The top 10 areas in terms of transactional value include Dubai Marina, which tops the list with transactions worth over Dhs36.7 billion, followed by:
- Palm Jumeirah (Dhs28.51 billion)
- Jebel Ali Industrial First (Dhs 27.93 billion)
- Wadi Al Safa 3 (Dhs 25.33 billion),
- Business Bay (Dhs 20.08 billion)
- Burj Khalifa (Dhs17.86 billion)
- El Merkadh (Dhs14.53 billion)
- Al Khairan First (Dhs 13.81 billion)
- Hadaeq Mohammed bin Rashid (Dhs13.6 billion)
- Jebel Ali First (Dhs12.91 billion).
Top areas for real estate transactions
Dubai Marina ranked first among the top 10 areas in terms of mortgages with 1,186, followed by:
- Al Thanyah Fifth: 879 transactions
- Al Barsha South Fourth: 879 transactions
- Burj Khalifa: 874 transactions
- Jebel Ali First: 789 transactions
- Al Awir First: 743 transactions
- Hadaeq Mohammed bin Rashid: 665 transactions
- Business Bay: 652 transactions
- Wadi Al Safa 5: 629 transactions
- Palm Jumeirah: 526 transactions
Best areas for Dubai property mortgage value
- Jebel Ali First: Dhs27.78 billion
- Wadi Al Safa 3: Dhs14.97 billion
- Jebel Ali First: Dhs6.96 billion
- Palm Jumeirah: Dhs6.19 billion
- Dubai Marina: Dhs5.02 billion
- Business Bay: Dhs4.11 billion
- El Merkadh: Dhs3.45 billion
- Al Khairan: Dhs3.04 billion
- Al Barsha South Fourth: Dhs2.41 billion
- Burj Khalifa: Dhs2.24 billion
These achievements can be attributed to the city’s rising global profile, exceptional infrastructure and the commitment of Dubai’s visionary leadership to fostering development across sectors.
tanvir@dubainewsweek.com
