Emirates real estate sales rose 69 % to 108 billion dirhams in the first quarter | newspaper Al Khaleej

The first quarter of this year has seen exceptional growth in the real estate sector in the United Arab Emirates. Real estate totaled AED 194 billion, an 80% increase from AED 108 billion in the same period of 2022. Sales also rose 69% to Dh108 billion, up from Dh65 billion last year.

The Emirate of Dubai

The real estate industry continues to post record-breaking results, taking a large share at all levels. The data shows that the total amount of real estate in Dubai is AED 157 billion and sales amount to AED 89 billion, representing 81% of the total.

The real estate market in Abu Dhabi

also showed strong growth. The total value of real estate is AED 30 billion, including sales worth AED 16.2 billion.

The Emirate of Sharjah

The volume of real estate transactions is expected to rise to AED 5.9 billion in the first quarter of 2023.

The Emirate of Ajman

There was an increase in real estate transactions, where the volume of transactions amounted to AED 3.4 billion and the number of transactions increased by 6.25% compared to the same period last year.

The total trade volume in the real estate market amounted to Dh1.87 billion out of a total of 1,859 transactions.

All in all, the real estate sector in the UAE continues to show high growth and excellent performance.