As the UAE continued to demonstrate resilience in the face of challenging global economic conditions, the real estate sector witnessed robust growth across all the major asset classes in 2023, particularly the office and residential sectors, according to leading property expert JLL.
Benefitting from strong demand and continued developer activity, the UAE’s residential sector witnessed remarkable growth in transactions in both primary and secondary markets in 2023, stated JLL in its ‘A Year in Review’ report. In Dubai, both average sales prices and rental rates saw significant increases of 19% in November 2023 compared to the same period in the previous year.—Zawya News
