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Annual report

Dubai property market — 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales132,038Registered in 2023up38% vs the year before
Total valueAED 407.62BRegistered in 2023Across 166 communities
Price per sqftAED 1,365/sqftMedian across 2023up13.9% vs the year before
Sale priceAED 1.54MMedian across 202351% sold off-plan

In a sentence

The Land Department registered 132,038 property sales in 2023, worth AED 407.62B in total, across 166 communities. That is 38% more than the year before.

The median sale was AED 1,539,095 at AED 1,365/sqft, 13.9% above the year before. 51% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 14,204 registered sales, while Marsa Dubai took the most money at AED 39.81B.

Against the previous year, Madinat Hind 4 rose 1,358% to 1,925 sales, while Al Yufrah 2 fell 92% to 68.

Sales by year

Price per square foot by year

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in 2023, and how each moved against the year before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth14,204+136.8%AED 15.29BAED 777KAED 1,150/sqft69%
Business Bay10,088-0.9%AED 21.59BAED 1.40MAED 2,040/sqft52%
Marsa Dubai9,584+29.1%AED 39.81BAED 3.00MAED 3,236/sqft53%
Al Merkadh9,106+58.9%AED 17.86BAED 1.39MAED 1,845/sqft81%
Al Thanyah Fifth5,607+79.6%AED 12.36BAED 1.32MAED 1,288/sqft49%
Hadaeq Sheikh Mohammed Bin Rashid5,451+48.4%AED 16.88BAED 1.90MAED 1,953/sqft70%
Burj Khalifa5,071-0.4%AED 19.17BAED 2.50MAED 2,564/sqft40%
Wadi Al Safa 54,793+46.8%AED 8.99BAED 1.88MAED 965/sqft65%
Al Khairan First4,691+29.4%AED 14.58BAED 2.19MAED 2,070/sqft68%
Al Barshaa South Third4,591+71.2%AED 5.03BAED 721KAED 1,212/sqft78%
Jabal Ali First4,201-13.1%AED 8.04BAED 1.00MAED 977/sqft25%
Al Hebiah Fifth3,775-33.5%AED 11.69BAED 2.47MAED 1,292/sqft0%
Madinat Al Mataar2,982+43.3%AED 8.19BAED 2.00MAED 880/sqft45%
Al Yelayiss 22,955+253.0%AED 3.46BAED 979KAED 1,023/sqft78%
Al Hebiah Fourth2,811+45.3%AED 9.33BAED 756KAED 893/sqft23%

Where the money went

Ranked by total registered value rather than count — a different list, and the one that shows where capital actually landed.

CommunityValueSales
Marsa DubaiAED 39.81B9,584
Palm JumeirahAED 29.96B2,475
Business BayAED 21.59B10,088
Burj KhalifaAED 19.17B5,071
Al MerkadhAED 17.86B9,106
Hadaeq Sheikh Mohammed Bin RashidAED 16.88B5,451
Al Barsha South FourthAED 15.29B14,204
Al Khairan FirstAED 14.58B4,691
Palm Jabal AliAED 14.22B572
Wadi Al Safa 3AED 13.11B2,141

Biggest movers

Change in registered sales against the previous year. Limited to communities with at least 50 sales in both — below that a swing is noise.

CommunitySalesChange
Madinat Hind 41,925+1358.3%
Al Barshaa South Second894+538.6%
Madinat Dubai Almelaheyah1,835+482.5%
Al Hebiah Second697+428.0%
Wadi Al Safa 21,396+398.6%
Saih Shuaib 1453+323.4%
Al Yelayiss 22,955+253.0%
World Islands228+245.5%
Zaabeel Second849+236.9%
Wadi Al Safa 32,141+224.9%

The largest sales of 2023

Each row links to its own register record, so any figure in this report can be traced to the transactions behind it.

Registered property transactions from the Dubai Land Department
DateCommunityProject / buildingTypeBedsSizePrice/sqftPrice
12 Apr 2023Mugatrah—LandExisting PropertiesNot specified203,080,082 sqftAED 19/sqftAED 3,869,204,024
19 Dec 2023Al Yelayiss 5—LandExisting PropertiesNot specified83,867,631 sqftAED 29/sqftAED 2,427,140,685
9 Oct 2023Al Safouh Second—BuildingExisting PropertiesNot specified2,753,158 sqftAED 666/sqftAED 1,834,286,000
27 Mar 2023Al Khairan FirstCREEKSIDE 18Dubai Creek HarbourLandExisting PropertiesNot specified7,303,768 sqftAED 215/sqftAED 1,570,838,790
27 Mar 2023Al Khairan First—Dubai Creek HarbourLandExisting PropertiesNot specified45,107,594 sqftAED 35/sqftAED 1,570,838,790
9 Oct 2023Palm Jumeirah—Palm JumeirahLandExisting PropertiesNot specified584,346 sqftAED 1,711/sqftAED 1,000,000,000
11 Dec 2023Palm JumeirahROYAL AMWAJPalm JumeirahLandExisting PropertiesNot specified858,638 sqftAED 1,095/sqftAED 940,000,000
18 Dec 2023Palm Jumeirah—Palm JumeirahBuildingExisting PropertiesNot specified507,475 sqftAED 1,419/sqftAED 720,000,000
23 May 2023Madinat Al Mataar—Dubai World CentralLandExisting PropertiesNot specified14,656,269 sqftAED 45/sqftAED 659,538,246
12 Apr 2023Al Layan1—LandExisting PropertiesNot specified33,108,127 sqftAED 19/sqftAED 630,795,976

Source: Dubai Land Department open data, retrieved from the Digital Dubai data.dubai platform. Figures cover registered transactions and Ejari-registered tenancy contracts, and are statistical summaries of public record — not a valuation of any individual property. Registration data can be amended or backdated by the source after first publication.