Real estate transactions in Dubai reached a record high

  • 18/01/2023

Dubai: The official Media Office announced Monday that Dubai had recorded real estate transactions totaling more than $143 billion in 2022, describing the achievement as a "milestone" for the United Arab Emirate's main buisness center.

The property boom coincides with an influx of Russians who have bought homes in some of Dubai's most sought-after neighborhoods after Moscow was subjected to more stringent Western sanctions as a result of its invasion of Ukraine. It claimed that the emirate broke its previous record of 80,000 residential sales transactions in 2009 by recording more than 86,000 such transactions in 2022.

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