Dubai’s real estate market in 2021
Dubai’s real estate market continues to serve as a key driver for the growth of various sectors and economic activities in the emirate, with 84,772 transactions worth AED300 billion recorded in the sector in 2021, according to the annual transactions report published by the Dubai Land Department (DLD). Guided by management guidelines and strengthened by government economic stimulus packages and the emirate’s Expo 2020 Dubai, the sector was able to achieve a high volume of deals last year. In addition, strong fundamentals and the attractiveness of Dubai’s real estate market, as well as flexible and transparent procedures, continued to attract investors from around the world.
The report showed a 65% increase in the number of deals and a 71% increase in value compared to 2020. A total of 52,415 investors entered into 72,207 new investment deals in 2021 worth AED 148 billion, representing a 73.7% increase in the number of investments, 65.6% increase in the number of investors and 100% increase in the value of investments compared to 2020. Reflecting the sector’s ability to make progress despite the current exceptional circumstances, these results further strengthen its leading regional and global position.
Commenting on the results, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said: “The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world’s best city to live and work in has served as a key factor in increasing its attractiveness as a global investment destination.
“Dubai’s robust infrastructure, flexible legislation that keeps pace with evolving market conditions and safe environment have all contributed to increased investment confidence in the real estate sector. Increased investment and global investor interest in Dubai is testament to the effectiveness of the emirate’s strategic economic initiatives to strengthen its leadership in various sectors and improve its global development ranking. 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 achieve ambitious goals for the future,” said His Highness.
HRH Sultan Butti bin Majren, CEO of DLD, said: “The Dubai real estate sector has once again proven its resilience, attractiveness and ability to achieve sustainable growth even in the exceptional conditions witnessed around the world. The results highlighted in the report bode well for the future as the country enters another 50-year period of economic development. The real estate sector is a major catalyst for growth in various other sectors.
Bin Majren added that the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and the subsequent actions of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum have helped strengthen the potential of the Dubai real estate sector and make it a destination of choice for investors both regionally and globally, as well as one of the world’s best cities to live and work.
“We intend to continue working towards achieving our strategic goals in 2022 to become regional and global leaders in the real estate market, as well as provide exceptional end-to-end services to all clients in the sector. We will also continue to develop legislation to help regulate, encourage and manage investment in the real estate sector, in addition to enhancing our knowledge of the real estate culture in the Emirate.”
#Dubai records 84,772 real estate transactions representing a value of AED300 billion in 2021, according to the annual transaction report issued by the Dubai @Land_Department (DLD).https://t.co/cP3acKkuS3 pic.twitter.com/YwLG4nrOqA— Dubai Media Office (@DXBMediaOffice) January 5, 2022
Follow our Telegram Chanel