During a seven-day period ending 8 April, during the first week of Ramadan, 2,012 real estate transactions were processed with a total amount of AED 5.3B (USD 1.44B) in Dubai. As stated by the Dubai Land Department (DLD), 236 plots were sold for AED 1.07B (USD 291.3M) and 1,415 apartments and villas were sold for AED 2.9B (USD 805.85M).

The highest three transactions comprise land in Hadaeq Sheikh Mohammed Bin Rashid which sold for AED 74.9M (USD 20.4M), land in Al Merkadh which sold for AED 22.5M (USD 6.1M) and land in Al Satwa which sold for AED 19M (USD 5.17M).

Residential communities with the most transactions in the first week of Ramadan comprise Al Hebiah Fifth with 119 sales transactions worth AED 267.82M (USD 72.9M), Al Merkadh with 40 sales transactions worth AED 394M (USD 107.27M) and Wadi Al Safa 5 with 15 sales transactions worth AED 75M (USD 20.41M).

The amount of mortgaged real estate in the first week of Ramadan amounted to AED 1.05B (USD 285.86M), and, during the same period in Dubai, 53 properties were granted between first-degree relatives worth AED 269M (USD 73.23M).

High indicators are also observed in Dubai’s business sector, as 24,662 new business licenses were issued in the first quarter of 2022, which exceeds the figures recorded for the first quarter of 2021 by 58%. These indicators demonstrate the strong fundamentals of the emirate of Dubai, the sustainability of its economy and investors’ confidence in Dubai’s growth potential in various sectors.

According to the report by Dubai Economy and Tourism (DED), 57% of new business licences, which were issued during the first quarter of 2022, are professional and 43% were commercial. The largest number of new licenses were issued in Bur Dubai (16,557) and Deira (8,066), with thehe top subregions comprising Al Fahidi, Burj Khalifa, Port Saeed, Al Marrar and Dubai Investment Park 1. Obtaining a trade license or launching a business has now become doable in a matter of a few minutes, due to the first integrated digital business set-up platform in the emirate, which is called “Invest in Dubai”.