Real estate in Dubai achieves impressive success in July 2022 compared to 2021
FAM Real Estate reported that the real estate market in Dubai achieved a remarkable economic recovery in July this year, compared to 2021, when 3,600 sales transactions were recorded, an increase of 138% compared to July 2021.
The report published by the company’s interactive data website, DXBinteract.com, said sales value increased by 68% to 13 billion dirhams, and the “Business Bay” area was the top-selling area with various prices starting from 670,400 dirhams in addition to savings Many advantages and services that attract investors to buy there.
It was followed by the “Downtown” district, in particular the RP Heights tower, known for its luxurious apartments, its breathtaking panoramic views and its prime location in the heart of Dubai, just 2 minutes walk from the Dubai Mall. Prices here start from AED 1.87 million with a payment plan of 5 years after delivery.
Commenting on the performance of the sector, Firas Al-Msaddi, CEO of FAM Real Estate, said: “The real estate market witnessed a record value of sales exceeding AED 13 billion in the month of July, making it the best performance in the sector since the beginning of the year. This remarkable growth and development has been possible thanks to the transparency of the legal system and the encouraging initiatives launched by the Government of Dubai. The United Arab Emirates is constantly adapting to the growing needs of a robust economy, which makes it a privileged investment hub. With large multinational corporations having regional headquarters in the UAE, it has become well equipped to meet the lifestyle demands of expats, making it a desirable option for long-term work plans and even for settle. All of these factors contribute to the real estate segment. and we expect this trend to continue for the rest of the year.
Breaking down all the following transactions that were sold, compared to July 2021, the apartments with the largest share were with over 4,840 apartments sold, an increase of 60% and over AED 9 billion.
This is followed by villas, with more than 1,500 transactions, which represents an increase of 73%, amounting to more than 7 billion UAE dirhams.
Land ranked third when selling more than 400 plots, an increase of 22%, reaching more than 6 billion dirhams.
Finally, 340 commercial real estate transactions were executed with an increase of 50%, for an amount of AED 575 million.