A lot of real estate sales in the UAE in the first quarter of AED 108 billion with 69% growth | Al Khaleej Newspaper | Blog

A lot of real estate sales in the UAE in the first quarter of AED 108 billion with 69% growth | Al Khaleej Newspaper

The first quarter of this year has seen exceptional growth in the real estate sector in the United Arab Emirates. Real estate volume amounted to AED 194 billion compared to AED 108 billion for the same period in 2022, an increase of 80%. In addition, transaction volume increased by 69% to AED 108 billion compared to AED 65 billion.

The Emirate of Dubai continues to maintain its leading position in real estate at all levels, topping the data with transactions worth AED 157 billion and AED 89 billion, representing 81% of total transactions. The real estate market in Abu Dhabi also continues to grow, with transactions totaling AED 30 billion, including sales worth AED 16.2 billion. In the Emirate of Sharjah, real estate volume for the first quarter of 2023 amounted to AED 5.9 billion, while in Ajman it was around AED 3.4 billion. The number of transactions in Ajman amounted to 2,630, an increase of 6.25% compared to the same period in 2022.

Dubai has seen significant growth in real estate for the first quarter of 2023, with 38.7 thousand transactions worth AED 157 billion, an increase of 80% in value and 49% in number compared to the first quarter of 2022, when 26 thousand transactions worth AED 87 billion were recorded.

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Real estate sales in Dubai totaled AED 89 billion, a 62% increase compared to the first quarter of 2022 when sales totaled AED 55 billion. Abu Dhabi has also seen continued growth in real estate, with 5,472 transactions worth AED 27.9 billion recorded in the first quarter, compared to 3,304 transactions worth AED 11.3 billion in the same period of 2022.

In Ajman, real estate volume for the first quarter of 2023 amounted to approximately AED 3.4 billion and the number of transactions increased by 6.25% compared to the same period in 2022. The total transaction volume amounted to AED 1.87 billion out of a total of 1,859 transactions. In Sharjah, deal volume in the first quarter of 2023 totaled AED 5.9 billion, with deals worth AED 2 billion in January, AED 2.2 billion in February and AED 1.7 billion in March. A total of 3,386 transactions were completed in March, including 595 sales and 319 mortgage transactions totaling Dh838.6 million. In Sharjah, transactions were completed in 88 different areas including residential, commercial, industrial and agricultural plots.