The value of property transactions in Dubai in the fourth quarter of the year jumped 21 per cent compared to the third quarter to Dh22.07 billion ($6bn) as the emirate’s economy recovered from the pandemic-induced slowdown and government initiatives revived demand.

The number of deals during the three months to the end of December also climbed nearly 25 per cent to 11,065, according to listings portal Property Finder, which helps to compile the emirate’s real estate index with Dubai Land Department.