FAM Real Estate indicated that the real estate market in Dubai achieved a remarkable economic recovery during July of this year, compared to 2021, when 3,600 sales transactions were recorded, an increase of 138% compared to July 2021.

The report issued by the company's interactive data website DXBinteract.com stated that the value of sales increased to 13 billion dirhams by 68%, and the "Business Bay" area was the best-selling area with various prices starting from 670,400 dirhams in addition to saving Many advantages and services that attract investors to buy in it.

It was followed by the "Downtown" area in particular RP Heights Tower, known for its luxurious apartments, stunning panoramic views, and its privileged location in the middle of Dubai, which is only a 2-minute walk from The Dubai Mall. Prices here start from 1.87 million AED with a 5-year payment plan after delivery.

Commenting on the sector's performance Firas Al-Msaddi, CEO of FAM Real Estate, said: “The Real Estate market experienced a record high value of sales exceeding AED 13 billion in the month of July making it the sector's best performance since the beginning of the year. This remarkable growth and development has been achievable due to the transparency in the legal system and encouraging initiatives launched by the Dubai government. The UAE is always adapting to the growing needs of a robust economy making it a preferred investment hub. With major multinational companies having a regional head office in the UAE, it has equipped itself well to cater to the lifestyle demands of expatriates making it a desirable option for long term work plans and even settling in. All these factors contribute to the real estate segment and we foresee a continuation of this trend for the rest of the year.”

Breaking down all the following transactions that were sold, compared to July 2021, the apartments with the largest share were with more than 4,840 apartments sold, which is an increase of 60% and over AED 9 billion.

Then came the villas, achieving more than 1,500 deals, which represents an increase of 73%, amounting to more than 7 billion UAE dirhams.

Land plots ranked third when selling more than 400 plots, representing an increase of 22%, reaching more than 6 billion dirhams.

Finally, 340 commercial real estate deals were executed with an increase of 50%, amounting to AED 575 million.