Dubai Real Estate Market Transaction During in Ramadan 2023

The top real estate brokerage in the Emirates of Dubai, “W Capital,” performed a survey that revealed the sales of Dubai’s real estate sector have been at their highest level ever since the start of the auspicious month of Ramadan, registering a value of Dhs25 billion in just 20 days.

According to a poll based on data from the Dubai Land Division, the sales value exceeded the industry’s sales records of Dhs17.3 billion for all of the month nearly Ramadan 2022, a rise of 44%, despite the fact that traditionally, real estate transactions have been slow during this period.

According to Walid Al Zarooni, chairman of “W Capital” and a real estate expert, the real estate market in Dubai has maintained substantial investments momentum since the epidemic, with fresh elements bolstering the emirate’s economy.

Al Zarooni claimed that due to the high demand from both foreign and local investors, there were a record 7,207 real estate transactions in Dubai throughout the first 20 days of the upcoming Ramadan month, with an aggregate value of Dhs24.85bn.

He emphasized the desire for real estate’s unprecedently rapid rise. The first quarter of 2023 saw the strongest quarterly sales performance in Dubai’s real estate market history, surpassing the figures from the fourth month of last year and reaching a previously unheard-of level with a value of Dhs87 billion.

These extraordinary outcomes help the Dubai real estate market maintain its upward trend.

Walid Al Zarooni emphasised that there is no chance of the Dubai real estate market slowing down during the year, and that predictions point to continued excellence and record highs.

The market is performing at its best level since the starting point of 2023 as a result of favourable market conditions, faith in government initiatives, and the ability of Dubai’s economy to sustain strong growth rates, according to him.

Al Zarooni claimed that the real estate industry would have a regular period of slowness during Ramadan before 2022, but developers were capable of to use this silence as a time for recovery.

The market is performing at its best level least the start of 2023 as a result of favourable market conditions, faith in government initiatives, and the ability of Dubai’s economy to sustain strong growth rates, according to him.

With the growing demand from international investors, a further rebound in real estate sales is anticipated, and Dubai has established itself as a leading global hub for business and tourism that can satisfy all client needs. In alongside the fact that the emirate will continue to be the ideal destination for many people from all nationalities throughout the world, the cheap rates compared to other locations in the vicinity and around the world are another consideration

Ramadan, according to Al Zarooni, was marked by a seasonal.