Dubai real estate prices to reach Dh300 billion by 2023: report - Arabian Business

The real estate market in Dubai continues to grow rapidly, and it is predicted that prices in the Emirates real estate market will continue to increase and reach AED 300 billion by the end of 2023. These predictions are outlined in the report "Dubai Real Estate Market Forecast 2023", developed by sustainable construction company ZāZEN Properties.

The rise in prices is directly linked to an increase in sales volume, with property sales in Dubai in 2022 increasing by 75 percent year-on-year. Forecasts also indicate that the real estate sector will reach a volume of Dh300 billion by the end of 2023. In 2022, turnover in the emirate amounted to Dh261 billion, representing a 75 percent growth compared to 2021,' 's annual meeting on climate change and its impact on various sectors.

Sustainability and construction projects

A recent study by construction industry analysis company Procore found that 91 percent of regional respondents see decarbonization of construction projects as a significant challenge in the next three years. The report also highlighted the sustainability efforts of companies in the UAE and Saudi Arabia, with 43 percent of firms in these countries already complying with ISO 14001 - Environmental Management System standard. In addition, 45 percent of organizations in the GCC countries plan to achieve compliance with the standard in the next year.'' 'Such practices are expected to set a sustainable precedent not only in the UAE and Saudi Arabia, but throughout the Middle East.