Home UAE Abu Dhabi Dubai, Abu Dhabi real estate deals surged over 56% in 2023 Deal flow in the emirates of Dubai and Abu Dhabi have surged in 2023 on the back of extremely strong demand for the year by Gareth van Zyl December 29, 2023 Real estate deals in Dubai and Abu Dhabi have been on a tear in 2023 with a report indicating that deal flow in each of these markets respectively surged by 57 per cent and 56 per cent each for the year. This is according to a report released by Kamco Invest, which says that this increase happened in the first ten months of 2023 for Dubai and the first nine months for Abu Dhabi. Factors driving the Dubai market included a rise in prices of leading developers and increased demand for luxury properties under construction for both single-family and multi-family homes valued at over Dhs5m, said Kamco Invest. Taking a further step back, the report further highlighted that Dubai alone accounted for 52.1 per cent of the total value of real estate deals executed across all GCC countries. Meanwhile, the overall growth of the real estate market in GCC countries reached $171.6bn in deals from January to October 2023. This marks a 21.1 per cent annually as compared to $141.7bn in the same period of 2022, said Kamco Invest.
