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Real estate transactions in Dubai from the beginning of 2022 until the end of November achieved more than 388 billion dirhams, a growth of 43.7% compared to the same period in 2021, which achieved 270.23 billion dirhams, while real estate sales amounted to 239.61 billion dirhams in 11 months, bringing sales closer to A quarter of a trillion dirhams, as expected by the “Gulf” since last September.
According to the data of the Dubai Land Department, and the “Gulf” analysis of actions during the 11 months from the beginning of this year until the end of November, the value of real estate sales grew 79% from 133.39 billion dirhams during the same period in 2021.
88,010 sales deals were recorded, a growth of 60.9%, compared to the same period in 2021, which recorded 54,668 deals.
Sales recorded 63,633 units since the beginning of the year, 8,813 buildings, and 15,564 plots of land.
Likewise, the department recorded 18,098 mortgage transactions amounting to 121.4 billion dirhams, which included 13,624 housing units, 2,853 buildings and 7,254 lands. As for donations, they reached 4,260, with a total of 27.56 billion dirhams, which included 3,049 units, 200 buildings and 1,011 lands.
November performance
In November, the total disposals amounted to 49.9 billion dirhams, through 13,442 transactions, and during the past month, strong sales amounting to 30.8 billion dirhams were recorded through 11,085 transactions, including 8,522 units, 882 buildings, and 1,681 plots of land.
Likewise, the department recorded during November 1969 a mortgage transaction amounting to 17.3 billion dirhams, which included 987 housing units, 265 buildings and 841 lands. As for the donations, the number reached 388, with a total of 1.8 billion dirhams, which included 287 units, 21 buildings and 80 lands.
3 days performance
Real estate transactions in the Dubai Land Department amounted to more than 4.8 billion dirhams in 3 days, as the department witnessed, since the beginning of the week, the registration of 1228 pledges of allegiance at a value of 3.31 billion dirhams, including 176 pledges of allegiance to lands, at a value of 998.19 million dirhams, and 1052 pledges of allegiance to apartments and villas, at a value of 2.32 billion dirhams.
There will be no registration of deals on Thursday and Friday, which coincide with the Union Day holiday in the UAE.
During the week, the most important land sales came with a value of 124 million dirhams in the Al Jaddaf area, followed by a pledge of 80 million dirhams in the Business Bay area, followed by a pledge of 46 million dirhams in the Palm Deira area.
The first Jebel Ali region topped the regions in terms of the number of pledges, as it recorded 81 pledges at a value of 285 million dirhams, followed by the fifth region of Al Habiya, with 50 pledges at a value of 142 million dirhams, and a third in Sheikh Mohammed bin Rashid Gardens, with 6 pledges at a value of 97 million dirhams.
As for the most important sales of apartments and villas, a sale of 38 million dirhams in the second Jumeirah area was the most important sale, followed by a sale of 37 million dirhams in the Palm Jumeirah area, and finally a sale of 35 million dirhams in the first Al Barsha area.
The Business Bay region topped the regions in terms of the number of apartments and villas sales during the week, as it recorded 138 sales at a value of 200 million dirhams, followed by the Dubai Marina area, with 109 sales at a value of 275 million dirhams, and a third in Merkad, with 108 sales at a value of 159 million dirhams.
Mortgages recorded 1.37 billion dirhams, including 61 land mortgages at a value of 243.78 million dirhams and 273 mortgages for villas and apartments at a value of 1.13 billion dirhams.
As for donations, 38 donations with a value of 113.42 million dirhams were recorded, the most important of which was in Wadi Al-Safa 3 with a value of 24 million dirhams, and another in the second area of Nad Al Sheba with a value of 21 million dirhams.
Strong request
The real estate sector in Dubai is recording a strong demand, especially with the high demand for major standard deals, as many of the world’s wealthy are going to Dubai to own luxury homes for them. And the most prominent real estate deals that Dubai witnessed during 2022 indicate its importance to businessmen around the world, including one of the richest people in the world, Mukesh Ambani, who bought a villa in Palm Jumeirah for about 600 million dirhams, which is his second after the villa deal for his son on the Palm Beach also at a value 294 million dirhams.
Dubai leads the cities of the world in the rise in the value of luxury real estate during the next year, according to the expectations of the British “Nate Frank” company for real estate studies and consulting, which said that the values of housing built in luxury areas such as “Palm Jumeirah”, “Emirates Hills” and “Jumeirah Bay It is poised to witness the strongest growth among all cities in the world.
The company stated that the expected increase in the capital value of luxury housing in Dubai during 2023 will reach 13.5%, compared to 2022.
According to “Knight Frank”, the luxury residential real estate market in Dubai continues its global uniqueness in its performance, as it set a record for the growth of its capital value in 2022. This growth is being reinforced by Dubai’s position as a safe haven, and by an exceptionally diverse range of people with great wealth who They come in search of luxury homes, in addition to the positive impact resulting from the world-leading dealings on the part of the Dubai government in dealing with the crisis resulting from the “Covid-19” pandemic, which has strengthened the confidence of the business community in Dubai.
Home of the rich
Dubai and the UAE topped the countries most attracting wealth owners during the year 2022, according to the “Henley & Partners” report on immigration trends for the world’s wealthy, which said that the UAE came at the forefront of the highest countries to host high-net-worth individuals, exceeding 4 thousand individuals during 2022. The UAE has become a destination Intense interest from wealthy investors and is expected to witness the highest net inflow of HNWIs globally in 2022, up 208% against 2019 net inflow of 1,300.
The number of wealthy people (millionaires) who live in the UAE exceeded 91,700 by the end of the first half of the year 2022, according to New World Wealth data, which stated that the number of billionaires in both Dubai and Abu Dhabi rose to 16 billionaires, while
