Stock Dubai office workers business bay
Buoyed by Dubai’s strong growth outlook, areas across the emirate see high levels of real estate transactions in 2022. Image Credit: Clint Egbert/Gulf News

Dubai: The Business Bay area recorded the highest number of real estate transactions in Dubai last year with 10,853 deals. The other areas in the top 10 list of locations that registered most transactions included Dubai Marina (10,074), Al Barsha South 4 (7,338), Burj Khalifa (6,955), Al Merkadh (6,133), Al Hebiah 5 (5,868), Jebel Ali 1 (5,242), Hadaeq Mohammad bin Rashid (4,777), Al Thanyah 5 (4,590), and Palm Jumeirah (4,183).

Dubai’s rising profile as one of the best cities to live and work, its exceptional infrastructure and supportive regulations contributed to the growth in property transactions.

The sector’s performance supports the goals of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to double the size of the emirate’s economy by 2033 and consolidate its status as one of the world’s top three cities.

The Wadi Al-Safa 3 area ranked first in value of transactions in 2022 with over Dh47.1 billion, followed by Palm Jumeirah (Dh40.48 billion), Nad Al Sheba 1 (Dh32.83 billion), Dubai Marina (Dh32.71 billion), Jebel Ali First Industrial (Dh28.84 billion), Business Bay (Dh27.83 billion), El Merkadh (Dh23.08 billion), Burj Khalifa (Dh21.69 billion), Hadaeq Mohammed bin Rashid (Dh17.8 billion) and Trade Centre First (Dh15.39 billion). Dubai recorded a total number of 122,658 real estate transactions in 2022 worth Dh528 billion.