Despite what some continue to promote repeated claims that Dubai has become a “ghost city” and that investors and residents are leaving, the numbers keep telling a very different story. While pessimistic predictions are voiced from afar, Dubai’s real estate market continues to post record levels of activity, reflecting strong investor confidence and a steady flow of capital into the emirate.
And from Dubai we say to those waiting for our downfall: the number of our real estate transactions has become greater than the number of their rockets and drones.
Reality tells a completely different story. Dubai’s real estate market concluded Ramadan 2026 with an unprecedented performance, with total real estate transactions reaching approximately AED 68.8 billion through more than 19,500 transactions, during a period that is traditionally expected to see relatively slower market activity due to the season.
According to data from the Dubai Land Department, real estate sales alone exceeded AED 50.1 billion through 14,966 transactions, distributed across 12,054 residential units, 1,327 buildings, and 1,585 land plots. Mortgage transactions reached AED 14.73 billion, while property gifts totaled AED 3.97 billion.
A particularly notable aspect of the market activity was the balance between ready properties and off-plan sales. Ready properties accounted for AED 25.78 billion through 5,506 transactions, while off-plan projects recorded AED 24.33 billion through 9,460 transactions.
What makes these figures even more striking is the comparison with previous years. Real estate sales during Ramadan 2023 reached about AED 21 billion, rising to AED 32.6 billion in 2024, and AED 36 billion in 2025, before surging this year to more than AED 50 billion.
This upward trajectory reflects more than just temporary momentum; it reinforces Dubai’s position as one of the world’s most attractive real estate investment markets.
While some voices continue repeating narratives about investors and residents leaving Dubai, the numbers appear far clearer than any commentary. When the emirate records tens of billions of dirhams in transactions within a single month—and tens of thousands of deals—it becomes very difficult to reconcile these realities with the “ghost city” narrative.
In the end, opinions may differ, but numbers remain the most convincing language. In Dubai’s case, those numbers clearly say that the city some describe as a ghost town remains very much alive—and full of investors as well.
