Today: 8 October 2025
29 December 2023
1 min read

UAE Tops Gulf Real Estate Deals in 2023

The report highlighted that Dubai accounted for 52.1 percent of the total value of real estate deals executed across all GCC countries….reports Asian Lite News

An economic report has highlighted the UAE topped Gulf Cooperation Council (GCC) countries, acquiring the highest share of the total value of real estate deals conducted during the first ten months of 2023, surpassing the expectations for the entire year of 2022.

The report, issued today by Kamco Invest company indicated that the value of real estate deals in the GCC countries reached $171.6 billion from January to October 2023, marking a growth of 21.1 percent annually as compared to $141.7 billion in the same period of 2022.

The report highlighted that Dubai accounted for 52.1 percent of the total value of real estate deals executed across all GCC countries. The value of real estate deals in Dubai surged by almost 57 percent annually during the first ten months of 2023, driven significantly by the 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 AED5 million.

Additionally, the report pointed out that the value of real estate deals in Abu Dhabi jumped by 56 percent during the first nine months of 2023. This contributed to the performance of the UAE markets in enhancing the overall value of real estate deals for the GCC countries during the first ten months of the current year, surpassing the estimates for the entire 2022, which stood at $165.8 billion.

Furthermore, according to Kamco Invest’s report, real estate stock indices in the UAE and Saudi Arabia continued their strong performance, witnessing significant gains during the first 11 months of the current year.

As per the Gulf real estate total yield index released by Refinitiv, the sector’s performance rose by 19.2 percent, surpassing the Morgan Stanley Gulf Index. This growth was propelled by the strong performance of real estate development indices in Dubai by 32.9 percent, Abu Dhabi by around 29 percent, and Saudi Arabia by 21.4 percent.

ALSO READ: Japan Sanctions 3 Senior Hamas Members

Previous Story

UAE Gears Up For A Busy 2024

Next Story

In 2023, world turns spotlight on India’s foreign policy

Latest from -Top News

India, Qatar Strengthen Trade Ties

Goyal expressed optimism about the growing economic engagement between the two countries, stating, “Glad to meet Ahmed bin Mohammed Al-Sayed….reports Asian Lite News Union Minister of Commerce and Industry Piyush Goyal met

OCTOBER 7: Stop the Violence Now, Says Guterres

Guterres recalled that “the attackers brutally killed more than 1,250 Israelis and foreign nationals….reports Asian Lite News UN Secretary-General Antonio Guterres urged an immediate halt to the violence in Gaza, Israel, and

Piyush Goyal Heads to Doha for Trade Talks

During the visit, both sides are expected to discuss the proposed India–Qatar Free Trade Agreement (FTA)….reports Asian Lite News Union Commerce and Industry Minister Piyush Goyal will travel to Doha, Qatar, on
Go toTop

Don't Miss

Expo School Programme hits 500k student visits

As of 25 February, 532,794 students had visited the site

FedEx unveils new paperless mobile shipping solution

FSML is a web-based mobile shipping solution providing shippers, even