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Dubai records AED 300 billion worth of real estate transactions in 2021

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At 84,772, the total number of transactions recorded by Dubai’s real estate market in 2021 amounted to AED 300 billion.

The annual transactions report recently issued by the Dubai Land Department (DLD) revealed that up to 52,415 investors finalised over 72,000 new investments, worth AED 148 billion in Dubai in 2021.

As compared to the previous year, 2021 was marked by a 65 percent increase in the number of transactions, in addition to a growth of 71 percent in value.

MORE INVESTORS, MORE ACTIVITY

Looking at investor activity in the emirate, the past year saw a 73.7 percent rise in the number of investments carried out, with 65.5 percent more investors and a 100 percent increase in the value of investments, compared to 2020.

"Dubai’s robust infrastructure, flexible legislations that have kept pace with evolving market conditions, and its safe environment have all contributed to deepening investment confidence in its real estate sector," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai.

According to the report, the majority of real estate investment in 2021 came from foreign investors, with 38,318 investors concluding over 51 thousand new investments totalling just shy of AED 100 billion.

Domestically, almost AED 17 billion worth of investments were undertaken by a reported 6,897 investors from the GCC.

Interestingly, the data from the DLD also showed a 72 percent growth in female investors in Dubai real estate in 2021. These promising findings reflect the confidence of female investors in the UAE’s real estate market and reflect the growing diversity of the global economy.

“The rise in investments and the increasing interest shown by global investors in Dubai is testament to the effectiveness of the emirate's strategic economic initiatives that have sought to strengthen its leadership in various sectors and enhance its global rankings in development indicators.

“Dubai has a clear vision for the future, and its partnership with the global investment community continues to be vital to its ability to accelerate growth and meet its ambitious goals for the future,” Sheikh Hamdan continued.

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A PLACE BY THE SEA

The area with the highest number of transactions (7,968) was the Dubai Marina, followed by Business Bay (5,687), Al Thanyah Fifth (5,092) and Al Barsha South Fourth (4,813).

In terms of value, water-front locations topped the list with the Dubai Marina recording the highest value of transactions at just under AED 29 billion, closely followed by the Palm Jumeirah with AED 26.6 billion.

The same two locations also ranked top in the list of locations in relation to the value of mortgages, with more than AED 10.39 and AED 10 billion respectively.

Several stand out events including Dubai’s hosting of Expo 2020, the successful navigation of the COVID-19 pandemic, and the introduction of government directives and stimulus packages have been cited as key drivers of investment in the real estate sector in Dubai over the past year.

The figures recorded in this DLD report provide an optimistic outlook for the development of the sector moving forward, in which domestic and foreign investment has not yet shown any signs of slowing down.

"Dubai's real estate sector has once again proven its resilience, attractiveness and ability to achieve sustainable growth even during the exceptional circumstances being witnessed globally. The results highlighted in the report bode well for the future as the country ushers in another 50 years of economic development," Sultan Butti bin Mejren, Director-General of DLD commented.

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