• A new record number of  real estate sales in July
  • Walid Al Zarooni: The  Dubai real estate sector  has broken records for sales and transactions

Dubai, United Arab Emirates:"W Capital Real Estate Brokerage" report assessed the strong momentum and exceptional performance of the real estate market in the Emirate of Dubai, in the first seven months of 2022, exceeding Dhs130bn,with 48.000 transactions, thus making the largest sales value ever during that period, according to the latest data issued by the DLD.

The value of real estate units sold in Dubai for the period from January 1 to July 31 of each year exceeds Dhs100bn for the second time .The first time was in July 2009 when real estate sales recorded a value of about Dhs103bn.

The month of July 2022 ,also recorded the highest total value of real estate sales deals in the Emirate of Dubai, with a value of more than Dhs16bn, a result of about 5,359 deals, which is the highest value ever for the month of July, followed by monthly sales of Dhs15.4bn in 2009.

The value of monthly sales during July 2022 recorded an increase of about 44% on an annual basis compared to July 2021, which exceeded Dhs11bn, resulted from 4,414 real estate deals.

Walid Al Zarooni, Chairman of W Capital, said that the real estate sector in Dubai continues to break records in terms of sales and transactions time after time, which is a strong indication of the continued momentum and exceptional performance that started since late last year, and a strong evidence of Dubai real estate market attracting more investments.

Al Zarooni said that the real estate market has recorded unprecedented performance since the beginning of this year, amid record growth in demand driven by a number of positive factors. The expert’s expectations for positive indicators to continue so as to achieve steady growth in real estate sales to exceed Dhs230bn by the end of the year.

Walid Al Zarooni pointed out that this strong performance of the real estate market in recent months is due to foreign investors in light of the increasing demand, the high real estate prices and the high return on investment by a large percentage that encouraged the influx of foreign individuals to buy thanks to the stimulating measures, unlimited support and quality initiatives launched by the Dubai government recently. These included the policies supporting expatriates, the new residency rules, and the residence of entrepreneurs and investors, which contributed to strengthening Dubai's position at the forefront of global destinations as the best place to live, work and invest.

Al Zarooni pointed out that the Dubai Expo 2020, event ending late March, had the greatest impact in promoting the good investment and residence in Dubai and increased the demand for buying real estate units.

He revealed that the real estate market in Dubai has witnessed a radical change, especially in the past few years that witnessed a remarkable shift in investments, as attracted foreign investors and capitals after it was focused on local investors. There was significant increase in the sale of luxury and distinctive properties in conjunction with the increase in the investments of owners wealth, high income, thanks to the presence of advanced infrastructure along with a distinguished lifestyle that includes the best hotels and restaurants in the world and the exceptional amenities Dubai offers, which made it the best destination for work, live and invest.

Dubai properties first 7 months sales (2000-2022)

The Year

Transaction value – billion dirhams

Number of transactions - deals

2022

130.4

48311

2021

72

31261

2020

35.8

17363

2019

44.41

20701

2018

46

20103

2017

70.71

28895

2016

59.5

24094

2015

74.3

27606

2014

82.5

33136

2013

73.81

32729

2012

39.8

20275

2011

38.7

19463

2010

57.63

33817

2009

103

60337

2008

70.66

12404

2007

21.41

3661

2006

10.55

1406

2005

10.77

1861

2004

7.14

1781

2003

3.89

1199

2002

3.06

1343

2001

2.05

870

2000

0.988

606

Source: DLD data

Dubai real estate sales in July (2000-2022)

The Year

Transaction value – billion dirhams

Number of transactions - deals

2022

16.31

5406

2021

11.25

4414

2020

4.56

2359

2019

7.27

3670

2018

6.29

2748

2017

7.77

4000

2016

11.15

3924

2015

9.78

3817

2014

10.02

3344

2013

13.12

5037

2012

5.38

3086

2011

5.1

2925

2010

4.79

3244

2009

15.37

9581

2008

12.31

2599

2007

833

880

2006

1.07

161

2005

0.823

169

2004

1.16

236

2003

0.710

194

2002

0.334

137

2001

0.393

139

2000

0.157

84

Source: DLD data

-Ends-

About “W Capital”:

“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.

Since its inception, the company has sold over AED 200 million of properties to major developers.

About Walid Al Zarooni:

Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.

Al Zarooni is one of the first experts to harness social media to raise the public awareness about  real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as " Instagram ",“ Snapchat " and “Twitter”, on which he is very active.