Dubai obtains significant growth in the first half of 2023

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According to a report evaluated by Sheik Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, Dubai has surpassed expectations regarding its economic advancement in the first half of 2023.

The emirate has attracted over 8.5 million international visitors, cementing its position as the top global tourist destination. Moreover, the Dubai Financial Market experienced a notable growth of 14 percent, leading to a substantial increase in value amounting to AED71 billion.

The real estate industry also saw significant expansion, as the total value of transactions reached AED285 billion.

Sheik Hamdan has expressed his contentment with the economic achievements, stating on Twitter: I have examined a report outlining the key highlights of Dubai’s remarkable financial performance in the first half of 2023. Dubai has attained unprecedented growth and has emerged as a leader in various economic sectors. In 2023, Dubai was designated as the top global tourist destination, having welcomed over  8.5 million visitors in the past six months alone. Furthermore, Dubai has been recognized as one of the top three cities worldwide that attract affluent individuals. The Value of Sukuk listed on Nasdaq Dubai has surged to $75 billion, establishing Dubai as one of the global primary centers for Sukuk listings. The real estate sector has experienced exceptional growth, with AED 285 billion in transactions.

“Guided by @HHShkMohd’s vision and Dubai’s Economic Agenda D33, Dubai continues to reinforce its position as a major global economic hub, and will always be the best place to live and work worldwide,” he added.

Dubai’s impressive accomplishments in various industries have earned the trust and admiration of the international community and prominent investors. For the second consecutive year, the city has been honored as the top-ranked global destination in Tripadvisor’s esteemed Travelers’ Choice Awards 2023. Additionally, Dubai has emerged as a leading hub for affluent individuals and has shown rapid recovery after facing challenges from the COVID-19 pandemic. The Dubai Financial Market (DFM) has proven its strength as one of the most successful stock markets, with its index witnessing a notable 14 percent growth and reaching a market value of AED652 billion.

Nasdaq Dubai has grown significantly and is now recognized as a leading global center for Sukuk listings, with a total value of $75 billion. The real estate sector in Dubai has shown strong demand growth, with transactions totaling AED285 billion. This performance aligns with the objectives outlined in the Dubai Economic Agenda D33, which aims to establish a competitive environment and position Dubai as an ideal destination for residence, tourism, and employment. Sheik Hamdan emphasized that these exceptional first-half results of 2023 reinforce optimism for achieving significant milestones in the coming months. Dubai remains committed to improving the business environment and driving economic growth in line with the Dubai Economic Agenda D33 goals, contributing to the emirate’s long-term aspirations.

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