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Women invest Dh58.9b in Dubai real estate sector

Females play a vital role in the emirate’s property sector’s growth with 33,419 sales transactions

Dubai’s real estate sector saw a marked rise in the participation of women in 2022 as a total of 26,698 female investors registered 33,419 real estate investments worth over Dh58.8 billion in the emirate, growing 50.7 per cent in volume and 53 per cent in value from 2021.

The number of women investing in the sector in 2022 increased 50.8 per cent from 2021, according to Dubai Land Department (DLD) data.

The growing investments by women in Dubai’s real estate market reflect the vision of the UAE’s leadership to empower women to participate in various spheres of life and economic sectors.

Further, the emirate’s robust regulatory framework which offers strong protection for investments, Dubai’s positive economic outlook and resilience to regional and global fluctuations as well as its exceptional infrastructure have encouraged women to invest in the local sector. The sector’s ability to sustain growth and provide some of the world’s best returns for real estate investments have also spurred investments by women.

With the rising participation of women across economic sectors and the growing culture of gender balance in organisations across the emirate, women are set to play a vital role in achieving the objective of the Dubai Economic Agenda D33 announced recently by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to double the size of the emirate’s economy by 2033.

Dubai’s real estate sector ended another exceptional year with annual transactions setting new records, marking the sector as a major contributor to the goals of the Dubai Economic Agenda D33. Annual real estate transactions in the emirate crossed the half-a-trillion dirham milestone for the first time with 122,658 real estate transactions in 2022, valued at Dh528 billion.

The role of women in the real estate sector was not limited to investments. They also contributed to the sector as developers, real estate brokers and members of the sector’s workforce.

DLD’s data also showed that women accounted for 34.8 per cent of registered real estate brokers. A total 4,519 women brokers contributed to 8,606 transactions worth Dh696 million. Constituting 42 per cent of total employees in the Dubai Land Department, women play instrumental roles across sectors and levels in delivering the organisation’s mandate.

KEY TAKEAWAYS

> Women’s participation is on the rise in the sector with investments by women growing 50.7% in volume and 53% in value from 2021

> 26,698 women made real estate investments in Dubai, in 2022, up 50.8% from the previous year

> Growing investments by women reflect the UAE leadership’s vision to empower women to participate in various economic sectors

> Women are set to play a vital role in achieving the Dubai Economic Agenda D33’s goal of doubling the size of the emirate’s economy by 2033

— muzaffarrizvi@khaleejtimes.com