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DLD Records Strongest Performance Ever with 1.6 Million Transactions

DLD Records Strongest Performance Ever with 1.6 Million Transactions

In 2023, the Dubai Land Department (DLD) was able to reach an all-time high number in terms of the number of transactions across different real estate activities.

Data shows that a total of 1.6 million transactions were carried out, which ranged from rental agreements to real estate transactions.

The performance

This shows a remarkable growth from 2022 of about 16.9%, as the total number of transactions recorded then had stood at 1.368 million.

Acting Director General of the DLD, Marwan bin Ghalita, announced the details of the record-breaking performance.

He stated that the department was committed to supporting the goal of the UAE and the emirate itself to build the most active economy in the world.

Bin Ghalita revealed that in 2023, the total number of real estate transactions had climbed past 166,400, while the value of these transactions had surpassed AED 634 billion.

As compared to data from 2022, this was a 36% increase in the number of transactions and a 20% increase in terms of value.

There was also exceptional performance recorded in real estate investments, as their value rose by 55% in the same period and reached almost AED 412 billion.

Almost 113,655 owners made 157,798 investments, with investors increasing by 20%, as new investors were around 71,002. Furthermore, of the total new investors, 42% of them were non-resident investors.

The results

Bin Ghalita asserted that the versatility and strength of the economic performance of Dubai was evident in the record-breaking results.

He also added that the results also highlight the Dubai Land Department’s commitment to achieve its strategic vision of becoming a world leader in terms of attracting real estate investment.

He also asserted that the real estate sector’s outstanding performance would drive and support the ambitious goals of the Dubai Economic Agenda, D33.

These ambitious goals had been announced by Ruler of Dubai, Prime Minister of the UAE and Vice President, His Highness Sheikh Mohammed bin Rashin Al Maktoum.

This includes the emirate’s aspiration to become one of the top three urban economies globally.

The future

Bin Ghalita said that the results they had achieved in 2023 were a source of pride and affirmed the commitment of the DLD to support the continued development and growth of the sector in the future.

He expressed that these efforts would not only give the local economy a boost, but also enhance the attractiveness of the sector.

Moreover, it would also help in attracting both local and global investors because of the manifold investment advantages that Dubai offers, along with advanced infrastructure of the highest standards.

The DLD’s annual figures reveal that out of the 10,441 investments, 7449 were Gulf investors, with the investments valued at AED 30.75 billion.

There were 13,248 investors who made a total of 17,047 investments and the total capital injected stood at AED 29.23 billion.

90,753 investors made a total of 122,937 investments, which saw them contribute about AED 276.28 billion.

Dubai’s real estate sector has also felt the presence of women, as the number of female investors in 2023 also rose.

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