The real estate sector in Dubai has managed to record high growth levels during the first half of 2023, by hitting its best performance and closing 60,420 sales deals with a value exceeding AED 177.3 bn, Invest-Gate reports.

The growth rate, in terms of annual sales value, during the first six months of this year, was about 55% compared to the same period last year, which amounted to AED 114.5 bn. In terms of the number of deals, it was about 41% compared to 42,971 sales deals.

Moreover, in June, the real estate market in Dubai maintained a continuous state of momentum since 2021, by recording 9,828 real estate sales deals at a value of AED 28.3 bn. This is considered the highest number in June YoY, breaking the highest recorded in 2009 at AED 22.92 bn.

Accordingly, the current month witnessed an increase in value by 25% compared to about AED 22.7 bn, with an increase in transactions by 11.5% compared to 8833 transactions.