09 February 2023

Business Bay ranked #1 in Dubai’s most sought-after areas

Table of content

The Dubai Media Office reports that in 2022, the trendy Business Bay registered a record number of real estate transactions in Dubai – 10,853 transactions. This indicator indicates that the area is the most attractive for investment. Also in the top ten are:

Palm Jumeirah – 4,183;
Al Thanyah 5-4590;
Hadaeq Mohammad bin Rashid – 4,777;
Jebel Ali 1 – 5242;
Al Hebiah 5-5868;
Al Merkadh – 6,133;
Burj Khalifa – 6955;
Al Barsha South 4 – 7338;
Dubai Marina – 10,074.

Why is Dubai so successful?

The answer to this question is quite obvious. Due to good prospects and opportunities for rapid economic growth and development of the real estate industry in 2022, a large number of transactions were recorded in different territories of the emirate. The gradually growing reputation of Dubai as one of the most reliable and safe cities to live and work in, its excellent infrastructure, loyal law, as well as the high level of services provided by the Dubai Land Department (DLD) have always contributed to a significant increase in the number of real estate transactions.

Sheikh Mohammed bin Rashid Al Maktoum launched the D33 economic program, according to which bets will be placed on the real estate sector. In this way, it will be possible to double the size of the emirate’s economy by 2033 and turn it into a world leader in the real estate industry.

Ten districts by transaction value

Wadi Al-Safa 3 ranked first in total transaction value in 2022 with over AED 47.1 billion. Other areas are also included in the rating.

Trade Center First – 15.39 billion AED;
Hadaeq Mohammed bin Rashid – 17.8 billion AED;
Burj Khalifa – 21.69 billion AED;
El Merkadh – 23.08 billion AED;
Business Bay – 27.83 billion AED;
Jebel Ali First Industria – 28.84 billion AED;
Dubai Marina – 32.71 billion AED;
Nad Al Sheba 1 – 32.83 billion AED;
Palm Jumeirah – 40.48 billion AED.

Over the past year, 122,658 transactions worth AED 528 billion were registered in the emirate. DLD continues to work to make the place even more attractive to local and international investors.