Explore opportunities, discover new developments, and stay ahead of the game in Dubai's ever-evolving real estate scene with the latest real estate news and market trends for 2023.
Today we shall cover the most important and latest UAE real estate news from projected prices, market share rises, the most in-demand areas for rental or real estate purchases, and more!
So, buckle up as we dive into the highlights for the year 2023.
UAE Launches New National Housing Platform
On top of the latest Dubai real estate news this year, the UAE government has launched a groundbreaking initiative called "Darak" which means your house in Arabic.
“Darak” is a national housing platform set to redefine the living standards of its citizens. This transformative platform aims to enhance family and community stability while elevating the overall quality of life. With a focus on reducing financial burdens, how you might wonder?
- The platform offers discounted construction and furnishing costs
- It gains you access to business and project opportunities, as well as customized financing options.
Under the supervision of the Ministry of Energy and Infrastructure, this visionary platform strives to ensure affordable housing for all UAE citizens.
Dubai Property News: Deals Surge Up by 78% During May 2023
The year 2023 was projected to be a promising one according to experts when it comes to the real estate market in UAE, and indeed it was as we have neared half of 2023, more than 11,700 transactions were made which is more than double of the deals made at the same time last year in 2022, the total value of property transactions surged to Dh34 billion ($9.3 billion).
Dubai’s real estate market is expected to grow at the largest pace in the world more than London and Paris by the end of 2023! That is why you can explore in depth how to invest as a key player in the Dubai's real estate market.
The surge in property deals highlights the strength of Dubai's real estate market. Stay tuned for more exciting Dubai real estate news as the sector continues to evolve and present new opportunities.