DUBAI RECORDS AED177 BN REAL ESTATE TRANSACTIONS IN FIRST HALF OF 2023
Dubai real estate continues to witness significant growth this year with recorded sales of over AED177 billion (US$48.2 billion) in the first half of 2023.
The total sales comprised of over 60,440 transactions, showcasing a 46.71% jump in the residential property market and 30% growth in the commercial sector.
One of the most notable transactions was the sale of land covering an area of 203 million square feet near Maktoum International Airport amounting to AED3.8 billion.
The most expensive apartment sale recorded was AED410 million for a property at the Bulgari Residences on Jumeirah Bay Island.