by admin
In H1 2023, The Emirate Witnessed 76,119 Real Estate Transactions, Totaling Dh283 Billion In Value.
Due to foreign investments and an increase in inhabitants who are switching from tenants to owners, Dubai’s real estate market has been expanding at an exponential rate. According to the most recent information provided by the Dubai Land Department, the emirate had 76,119 real estate transactions totaling Dh283 billion in the first half of 2023. Al Barsha South Fourth, Dubai Marina, and Business Bay saw the most transactions. While Wadi Al Safa 3, Palm Jumeirah, and Dubai Marina saw the largest dollar volume of trades.
Top 9 Areas with Highest Values
The top 9 areas in Dubai with the greatest transaction values between January and June are listed below.
1. Dubai Marina
With transactions totaling over Dh24.96 billion, Dubai Marina came out on top. Marina is a wealthy neighborhood with several shopping options and first-rate amenities for its residents.
2. Wadi Al Safa 3
In H1 2023, Wadi Al Safa 3 came in second place with property transactions of Dh20.99 billion. The neighborhood is conveniently located near Dubai’s main roadways and offers a variety of residential structures and villas.
3. Palm Jumeirah
Transactions of Dh19.43 billion were made in Palm Jumeirah, which is home to some of the wealthiest people in the UAE and the world. One of the priciest areas in the entire emirate is Frond G on the Palm, also referred to as “Billionaires’ Row.” Compared to the entire Palm Jumeirah, it features more signature villas.
4. Jebel Ali Industrial
Jebel Ali Industrial First recorded transactions totaling Dh14.02 billion. Because of the opening of the Palm Jebel Ali, this area is becoming more and more well-known. This area will rank among the most popular tourist attractions in the emirate in the upcoming years.
5. Business Bay
Business Bay is one of the most well-liked locations for offices and homes, recording property transactions of Dh13.3 billion. Moreover, Business Bay is conveniently located adjacent to Downtown and has hosted the debuts of some of Dubai’s most renowned projects. Including Bugatti by Binghatti Residences, where a penthouse is currently on the market for Dh750 million.
6. Al Khairan First
Real estate sales of Dh10.81 billion were noted by Al Khairan First. The neighborhood gives its residents a sense of being in a cosmopolitan setting by providing a variety of residential apartments and villas with a range of amenities and conveniences.
7. Hadaeq Mohammed bin Rashid
Transactions in the Hadaeq Mohammed bin Rashid area totaled Dh10.27 billion from January to June 2023. The project, which covers the entire Nad Al Sheba neighborhood and is centered on the idea of “garden living,” is conveniently situated.
8. Jebel Ali First
Jebel Ali First recorded transactions totaling Dh9.64 billion, placing it as the ninth most active location for real estate transactions. This new neighborhood offers a mix of residential and business construction.
9. El Merkadh
During the first half of 2023, property sales totaling Dh9.41 billion were placed at the mixed-use complex El Merkadh.
