The value of real estate transactions in Dubai jumped by 80 per cent to Dh157 billion in the first quarter of 2023, compared to Dh87 billion in the same quarter last year.

And the number of transactions increased by 49 per cent from 26,066 to 38,715 during the comparative period.

The UAE also saw a continued inflow of new real estate investors in the first quarter, with the figure increasing by 12 per cent to 13,338 in Q1 2023, compared to 11,944 in Q1 2022.

Non-residential investors accounted for 45 per cent in the first quarter of this year, compared to 36 per cent in the first quarter of last year, an increase of 25 per cent.

"The sector is witnessing record growth since the beginning of this year, reflecting the trust in Dubai's economy and its future, and following the footprint of Dubai's D33 economic agenda," said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler, Deputy Prime Minister and Minister of Finance of Dubai.