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According to the data, the Dubai Land Department issued 9,047 real estate permits and 6,479 real estate licenses in 2022, which is 46.6% and 53.0% more, respectively, compared to the level of 2021.
The rapid growth in the number of permits and licenses is a reflection of the growing demand from international real estate investors, who are attracted by the powerful development potential of Dubai and the opportunity to make high profits in the local market.
Dubai's real estate market sales totaled a record 528 billion dirhams last year, an increase of 76.5% over 2021 as it continues its exponential development trajectory. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, established the Dubai Economic Program D33 with the intention of doubling the size of the emirate's economy by 2033 and strengthening its position as one of the three largest cities in the world. The sector's outstanding performance supports these goals.
Online advertising has received the largest number of DLD licenses (7,947), followed by ads (180), outdoor advertising (164), vehicle advertising (140), billboards (138), open day announcements (95), text messages (84), real estate marketing platforms (75), print advertising (50) and the opening ceremony of the project (38). In addition, licenses were granted, among other things, for holding real estate fairs, seminars, advertising and publications.
Real estate brokerage companies that buy and sell real estate have received the largest number of DLD licenses (2,308), followed by brokerage companies that sublet real estate (1,570), transaction monitoring services (1,273), real estate administrative supervision services (491), brokerage companies that buy and sell land and real estate (299), real estate development (161) and commercial complexes (170). In addition to these main categories, licenses were also granted to shopping malls, mortgage brokers and joint property management services.
