Unique Properties highlights the role of the Dubai Land Department's strategy in promoting investments in the UAE real?estate?sector

Real estate market transactions in Dubai increased by 61% since 2021, to exceed 240 billion dirhams

Expectations indicate that the UAE will acquire $1 trillion of the total financial wealth of the Middle East and Africa region by 2026

Unique Properties, one of the leading and award-winning real estate brokerage firms in Dubai, revealed that the volume of real estate market transactions in Dubai has increased by 61% since 2021, with a value exceeding AED 240 billion in 2022 . The company attributes this growth to the maturity stage of the real estate market in Dubai, which has seen residents tend to stay in the emirate for longer periods. In addition to the continuous trend after the general closure period, which witnessed high levels of demand for villas and townhouses.

The increasing demand for new real estate projects provides a wide range of options for investors, but it is expected that the high levels of demand will exceed the market’s ability to supply, as this comes after the announcement that many projects that were launched after the global health crisis will not be delivered until 2024 and beyond. The Dubai Land Department recently announced a new strategic plan to boost the momentum of the real estate sector in the emirate until 2026 , in line with the national agenda to build a better economy.?

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the new strategy, which is currently being finalized, as it contributes to supporting the UAE's efforts to achieve global leadership in the real estate investment sector. It is planned to launch a number of initiatives with direct impact to ensure that the department keeps pace with the proposed changes, provided that the necessary support is provided to implement a smooth and flexible transformation process in the real estate sector and to create a sustainable impact by expanding the scope of influence that allows access to a global real estate system.

Commenting on this topic, Arash Jalili, founder and CEO of Unique Properties in the UAE, said: “The strategy of the Dubai Land Department, which will be activated soon, holds promising prospects for the real estate sector by providing seamless real estate services, effective legislation and integrated data, through various partnerships. and leading digital infrastructure and human capital empowerment. The year 2022 witnessed an unprecedented growth in the number of real estate transactions, which in turn boosted the recovery of the real estate market in the UAE after the Covid-19 crisis. The role of the Dubai Land Department’s new strategy is to preserve the progress witnessed by the UAE real estate sector, by adopting an advanced methodology to attract more real estate investments in the coming years.”

The UAE acquired 10.2% of the financial wealth of the Middle East and Africa region in 2021, and its share is expected to reach $1 trillion of the total financial wealth of the Middle East and Africa by 2026. The Dubai Land Department's commitment to maximizing the potential of technology contributes to driving the economic growth of the UAE, by facilitating the investment process, especially in the luxury housing sector, in which transactions record greater financial values. Unique Properties has extensive experience in the real estate market that helps it complete many transactions in the off-plan residential real estate sector in Dubai. The company also facilitates resale, sale, commercial and rental transactions for various properties under the supervision of its specialized team of international experts.