The real estate sector records 84.77 thousand transactions worth 300 billion dirhams in 2021

Hamdan bin Mohammed: Dubai provides the best investment-attractive environment

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, affirmed that "under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai has provided the best environments that attract investment... a vision whose fruits are embodied in the growing Foreign investments that have found Dubai a safe destination and the best opportunities for growth in various sectors.”

His Highness' statements came on the occasion of the issuance of the annual report of the Dubai real estate market, issued by the Dubai Land Department, which showed that the market witnessed in 2021 the registration of 84.77 thousand real estate transactions, with a value of about 300 billion dirhams, with a growth of 65%.

real estate sector

In detail, the real estate sector in the Emirate of Dubai continued to confirm its position as a fundamental pillar of growth for all sectors and economic activities in Dubai, thanks to the results that the sector succeeded in achieving during the year 2021, due to many factors, foremost of which are the wise directives of the wise leadership, and the economic stimulus packages provided by the government Dubai, in addition to the holding of the global event "Expo 2020 Dubai", in addition to the flexibility and attractiveness of the sector, and the confidence and transparency that it guarantees to investors and various categories of customers.

The annual report of the Dubai real estate market, issued by the Dubai Land Department, showed that in 2021, the market witnessed the registration of 84,772 real estate transactions, with a value of about 300 billion dirhams, with a growth of up to 65% in terms of the number of transactions, and 71% of the total number of transactions. In terms of value, compared to 2020.

While the number of new investments during 2021 reached 72,207, with a value of 148 billion dirhams, owned by 52,415 investors, with a growth of 73.7% in terms of the number of investments, 65.6% in terms of the number of investors, and 100% in terms of the value of investments compared to a year ago. 2020, so that the sector proves its ability to overcome crises and continuity of growth under various circumstances and developments, in an actual translation of the regional and global position enjoyed by the real estate market in Dubai.

Commenting on the strong performance of one of Dubai's main economic sectors, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, affirmed that "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 city The best in the world to live and work, and is a key factor in increasing its attractiveness to the foreign investor, in light of the balance of confidence that the emirate enjoys in achieving all that it promises, and the consequences of His Highness’s directives of steps that would enhance Dubai’s environment, whether for life or work, with initiatives And projects and legislation that guarantee everyone the best levels of prosperity and quality of life.”

His Highness said: "The strong infrastructure, flexible laws and legislations that keep pace with changes, and the safe environment that the emirate provides at all times, and within various circumstances, are factors that combine to deepen investor confidence and establish reasons for reassurance. What we are witnessing of an increase in the volume of foreign investments and the number of investors is proof of the success of Dubai's economic approach aimed at pioneering various future development sectors. Dubai has a clear vision for the future, and places its partnership with the global investment community as one of the supporting foundations for transforming its ambitions into achievements and successes. We share its fruits with everyone who finds in Dubai the best option for their businesses and investments.”

His Highness said in a tweet on Twitter: "Under the directives of His Highness Sheikh Mohammed bin Rashid, Dubai has provided the best environments that attract investment. A vision whose fruits we see are embodied in the growth of foreign investments that have found Dubai as a safe destination and the best opportunities for growth in various sectors."

His Highness added: "The increase in foreign investments in the real estate sector is evidence of the solidification of global investor confidence in Dubai and its booming economy."

big attraction

Sultan Butti bin Mejren, Director General of the Dubai Land Department, said: “The real estate sector in the Emirate of Dubai has succeeded in proving its flexibility, attractiveness and ability to achieve sustainability in growth, at a time when we witnessed exceptional circumstances with the world.

The results and indicators that the annual report highlights are a promising start for the next 50 years of comprehensive economic development, with the real estate sector representing a cornerstone and a catalyst for the growth of various other sectors.”

Investment Distribution

The annual report revealed that during the past year, the Gulf investor acquired 8,826 investments, with a value exceeding 16.88 billion dirhams, owned by 6,897 investors.

While the number of Arab investors reached 6097, they recorded 7,538 investments, with a value exceeding 12.4 billion dirhams.

At the level of foreign investments, the Dubai real estate market has attracted 51,55 thousand new investments, with a value of more than 99 billion dirhams, owned by 38,31 thousand foreign investors.

On the level of women’s investments in the Dubai real estate market, the statistics of the Land Department revealed a growth of up to 72% in the number of female investors in 2021 compared to 2020, after 17,705 thousand female investors pumped more than 38.4 billion dirhams into 22.16 thousand investments during 2021, This confirms the great confidence placed by businesswomen towards the Dubai real estate market, as a safe destination for investment.

top areas

The “Dubai Marina” area ranked first on the list of the top 10 areas in terms of the number of transactions with 7,968 transactions, followed by the areas: “Business Bay” (5687), “Al Thaniya Fifth” (5092), followed by “Al Barsha South of Fourth” (4813). , then "Sheikh Mohammed bin Rashid Gardens" (4352), followed by "Burj Khalifa" (4279), then "Wadi Al-Safa 5" (3536), "Al-Habibiya Fourth" (3261), "Al-Markadh" (3150), then "Palm Jumeirah" (2803 actions).

In the list of the top 10 regions in terms of the value of transactions, Dubai Marina took the lead with transactions worth more than 28.6 billion dirhams, followed by "Palm Jumeirah" (26.6 billion dirhams), "Sheikh Mohammed bin Rashid Gardens" (15.8 billion dirhams), then " Burj Khalifa” (14.2 billion dirhams), “Business Bay” (13.19 billion dirhams), then “Al Thanya Fifth” (8.19 billion dirhams), “Wadi Al Safa 5” (8 billion dirhams), and “Al Yafra 1” (7.3 billion dirhams). billion dirhams), the “fourth fold” (7.2 billion dirhams), then the “fourth love” (7.19 billion dirhams).

Dubai Marina also topped the list of the top 10 areas in terms of the number of mortgages with 1,440 mortgages, followed by Sheikh Mohammed bin Rashid Gardens (1046), Al Thanyah Fifth (1015), Burj Khalifa (922) and Al Barsha South of Fourth (875).

And in the classification of the top 10 regions in terms of the value of mortgages, Palm Jumeirah came first, with a value exceeding 10.39 billion dirhams, and Dubai Marina, with a value exceeding 10 billion dirhams, in second place.

real estate brokers

The annual report of the real estate market in Dubai showed that the number of registered real estate brokers reached 8002, including 3,171 new brokers, while the number of women working in the field of real estate brokerage reached 2715. The number of registered real estate brokers' offices reached 1421. The value of real estate brokers’ commissions in the Dubai market in 2021 amounted to more than three billion dirhams, and brokers contributed in 12,067 procedures during the same period, while the number of real estate evaluators registered in the department reached 71, including 10 new, and the number of real estate appraisal offices Registered 38 offices, of which two are new.

The number of completed projects during 2021 reached 35, with a value of more than 11 billion dirhams, while the number of real estate projects under construction reached 319.

On the other hand, the number of lease contracts that were registered reached 602,714, including 315,222 new contracts.

The number of real estate permits issued during the past year reached 6,168.

The number of registered real estate units during the same period amounted to 49,790 thousand units.

The number of sold units reached 41,020 thousand units, with a value of more than 68.5 billion dirhams, while the number of villas sold reached 8,030 villas, with a value of more than 18.2 billion dirhams.

Dubai Crown Prince:

• «Dubai's strong infrastructure, flexible laws and legislation, and a safe environment are factors that combine to deepen investor confidence and establish reasons for reassurance».

• «Increasing the volume of foreign investments and the number of investors is proof of the success of Dubai's economic approach aimed at pioneering various future development sectors».

real estate licenses

The number of real estate licenses issued by the Land Department, during the year 2021, reached about 4230 real estate licenses, distributed by activity as follows: brokerage in the sale and purchase of real estate 1229 licenses, follow-up services for transactions 1173 licenses, mediation in real estate rental 890 licenses, administrative supervision services for real estate 262 Licenses, purchase and sale of land and real estate 159 licenses, private real estate rental and management services 128 licenses, real estate development 107 licenses, commercial complex 91 licenses, administrative supervision services for jointly owned real estate management companies 70 licenses, real estate mortgage broker 42 licenses, shopping center 33 licenses, While the rest of the licenses were distributed to other commercial activities, such as: real estate rental and management services for third parties, real estate valuation services, real estate representation office, real estate survey services, and others.

Follow our latest local and sports news and the latest political and economic developments via Google news