In 2022, Business Bay emerged as the top-performing neighborhood in Dubai, witnessing the highest number of real estate sales with 10,853 transactions. Other notable areas in the top 10 include Dubai Marina, Al Barsha South 4, Burj Khalifa, Al Merkadh, Al Hebiah 5, Jebel Ali 1, Hadaeq Mohammad bin Rashid, Al Thanyah 5, and Palm Jumeirah, showcasing the diverse and vibrant real estate market in Dubai.
The increasing recognition of Dubai as a premier city for living and working, along with its outstanding infrastructure and investor-friendly regulations, played a significant role in the surge of real estate transactions.
The performance of the real estate sector aligns with the objectives of Dubai Economic Agenda D33, set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This ambitious plan aims to elevate Dubai among the world’s top three cities by 2033 and double the emirate’s GDP within that timeframe.
In 2022, the Wadi Al-Safa 3 area topped the list with transactions worth over Dh47.1 billion, followed by Palm Jumeirah (Dh40.48 billion), Nad Al Sheba 1 (Dh32.83 billion), Dubai Marina (Dh32.71 billion), Jebel Ali First Industrial (Dh28.84 billion), Business Bay (Dh27.83 billion), El Merkadh (Dh23.08 billion), Burj Khalifa (Dh21.69 billion), Hadaeq Mohammed bin Rashid (Dh17.8 billion), and Trade Centre First (Dh15.39 billion). Dubai witnessed a total of 122,658 real estate transactions amounting to Dh528 billion in 2022.
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