Last year, experts predicted Dubai’s flourishing year in 2023. Dubai Marina, business bay, and JVC are the three most popular and flourishing sectors of Dubai. In 2022, 10,300 real estate deals took place on average.  Business bay tops the charts with high sales and is the most popular area for investments. According to Zoom property insights, it will continue to be the key area of investments in 2023. 

CEO of Zoom Property, Ata Shobeiry appreciated the performance of Dubai real estate in 2022. He says ” not only was the market able to Surpass 2014 Peak levels but it also achieved new milestones as the year progressed.  The performance is expected from 2023 as well since foreign investors and HNWIs continue to invest in the Dubai property market and venture into it.” 

Apartments and Villas 

Around 67,700 apartments sold in 2022 worth AED1.2 million on average. Business Bay dominated these transactions with 9,300 transactions with an average of AED 1.3 million apartments worth AED 14.6 million. Followed by Dubai Marina and JVC With 5,690 apartment sales worth AED 2.1 million. 

In addition, Dubai Creek Harbour, Downtown Dubai, and Palm Jumeirah are some of the high-investment areas. 

With 22,600 Villas worth AED 2.1 million, Jebel Ali took the lead with 2,210 transactions followed by Dubai South with 1,485 transactions. 

In addition, Tilal Al Ghaf, Dubai Hills, Emirates Living, and Mudon are some high-investment areas. 

The CEO says ” the contribution of each sector in the market has a vital role in blooming the success of Dubai real estate.  With new development joining the bandwagon 2023 will see the market reaching new heights of success. ” 

Follow RGEstate for more real estate news! 

For all the latest real estate news, Investment Opportunities in Dubai, and business news from the UAE, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube Channel, which is updated daily.