Dubai real estate on track for record sales in summer2023.

Moscow, Russia - August 1, 2023:

The company "W Capital," based in Dubai, announced that real estate in Dubai is setting new historical sales records in the first 7 months of this year, reaching 217 billion dirhams (approximately 59 billion USD). July sales also set a new monthly record, exceeding 38 billion dirhams.

According to real estate expert and chairman of "W Capital," Valid Azarouni, the real estate market in Dubai continues to exceed all optimistic forecasts and achieve historic milestones due to several factors, including wise leadership guidance, government incentives, the flexibility and appeal of the sector, as well as the trust and transparency provided for investors and various categories of clients.

Azarouni added that the market also has a strong momentum in the offering of new and innovative projects from both large and small real estate developers, providing a variety of options in terms of area, location, and type, tailored to the needs of clients and investors.

Real estate in Dubai continues to set historical growth levels in the first seven months of 2023, reaching a record 217 billion dirhams, distributed across 72,101 sales transactions, according to data prepared by "W Capital." This represents a 61% increase in sales compared to the same period last year, and more than a 43% increase in the number of transactions.

Azarouni also predicts that real estate will continue to set new sales records, reaching a significant amount of over 300 billion dirhams by the end of 2023, supported by unprecedented demand due to Dubai's appeal as a place to live, work, and invest for foreign investors and entrepreneurs.