According to data, the Dubai Land Department issued a total of 9,047 real estate permits and 6,479 real estate licenses in 2022, representing significant increases of 46.6% and 53.0% respectively compared to 2021.
Dubai’s real estate market has experienced a surge in demand for licenses and permits from foreign investors, driven by the city’s strong development potential and the promise of substantial returns on investment.
With its exponential expansion trajectory intact, Dubai’s real estate market achieved record sales of Dh528 billion last year, marking a remarkable 76.5% increase from 2021. Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, established the Dubai Economic Agenda D33 to double the emirate’s economy by 2033 and establish its position among the world’s top three cities. The real estate sector’s outstanding performance supports these ambitious goals.
The majority of the issued DLD licenses (7,947) were for online advertisements, followed by classified ads (180), outdoor displays (164), vehicle advertisements (140), billboards (138), open-day announcements (95), text messages (84), real estate marketing platforms (75), printed advertisements (50), and project opening ceremonies (38). Additional licenses were granted for publications, seminars, advertising, and real estate fairs, among other purposes.
Real estate brokerages involved in buying and selling properties received the highest number of DLD licenses (2,308), followed by those engaged in subletting real estate (1,570), transaction monitoring (1,273), administrative supervision of real estate (491), buying and selling land and real estate (299), real estate development (161), and management of commercial complexes (170). Licenses were also available for shopping centers, mortgage brokers, and jointly owned property management services, in addition to the aforementioned primary categories.
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