Dubai property market performance was exceptional in 2022, says Sheikh Hamdan

Transactions last year increased 76.5 per cent in value and 44.7 per cent in volume from 2021

The performance of the Dubai property market last year was described as exceptional by Crown Prince Sheikh Hamdan bin Mohammed, as the value of deals reached a new high of Dh528 billion ($143.7 billion).

The value of transactions was up 76.5 per cent annually, while the number of transactions, at 122,658, rose 44.7 per cent year on year, a Dubai Media Office statement said.

The sector’s “exceptional performance” will help achieve Dubai’s vision to be “one of the world’s top three cities”, said Sheikh Hamdan.

“The results also support the goal of the Dubai Economic Agenda D33 … to double the size of Dubai’s economy by 2033. The sector is a pillar of Dubai’s strategy for sustainable development and a vital driver of its 2040 Urban Master Plan.”

Dubai remains one of the world’s most attractive investment destinations because of its stable economy, strong financial fundamentals and ability to find opportunities for growth, Sheikh Hamdan said.

“Moreover, global investors, institutions and businesses continue to have high confidence in Dubai’s economy due to its growing profile as one of the best metropolises to live and work, its exceptional infrastructure and supportive regulations,” he said.