Dubai real estate market information for 2021

Dubai real estate market information for 2021

31.05.2022

Dubai real estate market information for 2021

2021 year was challenging for numerous world economies. Each person experienced the consequences of COVID-19 pandemic, including real estate agencies. However, despite of times challenging for economy, the Dubai real estate market is in the period of its dramatic growth.

According to statistics, the most actual districts in 2021 are Dubai Marina, Palm Jumeirah, Burj Khalifa, and Busiess Bay.

Head of Dubai Land Department spoke with the real estate market data for 2021: the relative market growth led to the increase in number of deals by 65% and to the leap of financial advantage from them by 70%, in comparison to the year before last.

Over 52 thousand investors took part in investment operations: around 72 ths investing deals with total value of in 150 bln AED were executed. Thus, the number of investment in real estate grew by 74%, the investment price grew twice, and the number of investors grew by 66% (compared to the season before last).

Currently topical districts:

The districts were distributed as follows: for Dubai Marina, the partners executed the record amount of deals (around 8 thousand), for the largest final value (summary total of deals: 28.6 bln AED).

Beside this, other districts also made their mark: Palm Jumeirah (~27 bln AED), Khadaq Sheikh Mohammed bin Rashid (~16), Burj Khalifa (~15), Busiess Bay (~14).

Finished projects:

In the whole, the last year brought numerous successful projects: companies realized over 30 large objects, with total value over 10 bln AED, with 320 objects under construction. The Land Department registered about 85 ths deals for 300 bln AED.

According to data, over 600 thousand EJARI agreements, 315 thousand of which were brand new. As the result, the system issued over 6 thousand permits for construction.

Around 50 thousand of new real estate units were registered. Sale income amounted to 85 bln AED.

Investing:

As the result, there were registered around 6100 investors from the Gulf and around 7,5 thousand separated investments with total value of around 13 bln AED.

Moreover, according to the study, women more often trust investing in in Dubai real estate. According to DLD, women started investing by 72% more for the last year (compared to the year before last).

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