Dubai real estate announces massive achievement in February with DH27.4 billion
Dubai's real estate sector has achieved a remarkable milestone, setting a new sales record of approximately 27.4 billion dirhams since the start of February this year.
This figure surpasses previous records for the same month, including the totals for February 2023, which amounted to about 26.7 billion dirhams, and February 2022, with sales reaching 16.3 billion dirhams.
This spike in sales activity is evident in the 8,910 real estate transactions that have been reported since the month's commencement, according to data from the Dubai Land Department. Such a strong showing highlights the Dubai real estate market's growing vitality and assurance. Since the beginning of 2024, real estate sales have been increasing gradually. As of yesterday, they have reached an astounding 62.5 billion dirhams, the biggest amount of sales in Dubai's history during this time.
In January, real estate sales in Dubai soared to approximately 35.4 billion dirhams, setting yet another record for the month. This achievement was driven by 11,210 transactions, a notable increase from the approximately 28 billion dirhams generated through 9,814 transactions in January 2023.These record-breaking figures underscore the continued prosperity of Dubai's real estate sector, following exceptional growth throughout 2023. During that year, real estate sales surged to a historic high of 401 billion dirhams, representing the highest-ever value recorded in the emirate's real estate market.
Experts predict that the upward trajectory of Dubai's real estate market will persist throughout the current year, fueled by an influx of foreign investors attracted by the stimulating measures implemented by the Emirate of Dubai. This positive outlook suggests ongoing growth and resilience within Dubai's real estate landscape.
