Dubai’s actual property market continues to function a key driver for the expansion of varied sectors and financial actions within the emirate, with the sector recording 84,772 transactions representing a price of AED300 billion in 2021, in accordance with the annual transaction report issued by the Dubai Land Division (DLD).
Guided by the management’s directives and strengthened by the federal government’s financial stimulus packages and the emirate’s internet hosting of Expo 2020 Dubai, the sector was in a position to obtain a excessive quantity of transactions final yr. Moreover, the robust fundamentals and attractiveness of Dubai’s actual property market and versatile and clear procedures continued to attract traders from all over the world.
The report revealed a 65 p.c progress within the variety of transactions and a 71 p.c improve in worth in comparison with 2020. A complete of 52,415 traders concluded 72,207 new investments in 2021 price AED148 billion representing a 73.7 p.c progress within the variety of investments, a 65.6 p.c rise within the variety of traders, and a one hundred pc improve within the worth of investments in comparison with 2020. Reflecting the sector’s skill to attain progress regardless of the present distinctive circumstances, the outcomes additional reinforce its main regional and world place.
The report revealed that there have been 6,897 traders from the GCC that registered 8,826 investments price over AED16.88 billion.
A complete of 6,097 Arab traders recorded 7,538 investments, with a price exceeding AED12.4 billion. Dubai’s actual property sector additionally attracted 38,318 overseas traders, who concluded 51,553 new investments price over AED99 billion.
DLD’s statistics additionally revealed that 17,705 ladies registered 22,165 investments price over AED38.4 billion in 2021, a 72 p.c improve in comparison with 2020. The outcomes point out that businesswomen have nice confidence in Dubai’s actual property market.
The Dubai Marina space noticed the best variety of transactions, with 7,968 transactions, adopted by Enterprise Bay (5,687), Al Thanyah Fifth (5,092), Al Barsha South Fourth (4,813), Hadaeq Sheikh Mohammed bin Rashid (4,352), Burj Khalifa (4,279), Wadi Al Safa 5 (3,536), Al Hebiah Fourth (3,261), Al Merkadh (3,150), and Palm Jumeirah (2,803).
Dubai Marina additionally noticed the best worth of transactions with over AED28.6 billion, adopted by Palm Jumeirah (AED26.6 billion), Hadaeq Sheikh Mohammed bin Rashid (AED15.8 billion), Burj Khalifa (AED14.2 billion), Enterprise Bay (AED13.19 billion), Al Thanyah Fifth (AED8.19 billion). Wadi Al Safa 5 (AED8 billion), Al Yufrah 1 (AED7.3 billion), Al Thanyah Fourth (AED7.2 billion), and Al Hebiah Fourth (AED7.19 billion).
The best variety of actual property mortgages had been additionally recorded within the Dubai Marina space (1,440), adopted by Hadaeq Sheikh Mohammed bin Rashid (1,046), Al Thanyah Fifth (1,015), Burj Khalifa (922), Al Barsha South Fourth (875), Nad Al Sheba 3 (864), Al Yelayiss 2 (717), Al Thanyah Fourth (675), Me’aisem First (655), and Palm Jumeirah (618).
Palm Jumeirah and Dubai Marina topped the listing of areas when it comes to the worth of mortgages with over AED10.39 billion and AED10 billion respectively, adopted by Al Yufrah 1 (AED 6.49 billion), Warsan 2 (AED4.7 billion), Enterprise Bay (AED4.55 billion), Al Barsha South Fourth (AED3.4 billion), Burj Khalifa (AED3.4 billion), Al Wasl (AED3 billion), Al Thanyah Fifth (AED2.9 billion), and Al Thanyah Fourth (AED2.6 billion). The mortgage information displays the arrogance of Dubai’s nationwide and overseas banking sector within the emirate’s actual property market, which contributes to the provision of liquidity and money flows in addition to financing options provided by banks to encourage funding in Dubai’s actual property sector.
The report additionally revealed that 3,171 new brokers entered the market, growing the overall variety of registered actual property brokers to eight,002. In keeping with the report, 2,715 brokers in Dubai’s actual property market are ladies. A complete of 1,421 brokerage places of work had been registered within the emirate.
The worth of actual property brokers’ commissions in Dubai’s actual property market in 2021 exceeded AED3 billion by 12,067 transactions. Ten new actual property valuators entered the market, growing the overall to 71 valuators registered with DLD, and two new valuation places of work entered the market, growing the overall to 38.
A complete of 35 actual property tasks with a price exceeding AED11 billion had been accomplished in 2021 and 319 tasks are in progress. Moreover, 602,714 Ejari contracts had been registered in 2021, of which 315,222 had been new contracts. A complete of 6,168 actual property permits had been additionally issued final yr.
Moreover, 49,790 actual property items had been registered in 2021. A complete of 41,020 items had been bought, with a price exceeding AED68.5 billion, whereas 8,030 villas price over AED18.2 billion had been bought.
Three new actual property service trustee places of work had been registered in 2021, bringing the overall quantity to 13, whereas the overall variety of actual property registration trustee places of work remained at 13.
In 2021, DLD issued 4,230 actual property licenses. They had been distributed by exercise as follows: brokerage within the sale and buy of properties (1,229), follow-up companies (1,173), brokerage in rental properties (890), administrative supervision companies for properties (262), buy and sale of land and properties (159), personal actual property rental and administration companies (128), actual property growth (107), industrial advanced (91), administrative supervision companies for collectively owned property administration firms (70), actual property mortgage dealer (42) licenses, and purchasing centres and malls (33).
The rest of the licenses had been granted for different industrial actions, reminiscent of actual property rental and administration companies for third events, actual property valuation companies, actual property illustration workplace, and actual property survey companies, amongst others.