Dubai Real Estate Sees Record-Breaking Growth in 2024 with 2.78 Million Transactions

Dubai’s real estate

Dubai’s real estate sector experienced unprecedented growth in 2024, reaching a record 2.78 million property-related transactions, reflecting a 17% increase from the previous year. These transactions included property sales, plot deals, and rental agreements, reinforcing Dubai’s position as a leading global investment hub.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, highlighted the sector’s resilience and ongoing efforts to make Dubai the world’s top destination for living and working. He credited the Dubai Economic Agenda D33 for driving investor confidence and boosting the emirate’s economic prospects.

The year saw 226,000 real estate transactions, with a total value of AED 761 billion, marking an impressive 36% increase in volume and a 20% rise in value compared to 2023. Dubai also attracted 110,000 new investors, fueled by the thriving off-plan market and initiatives like the Golden Visa program, which continues to draw high-net-worth individuals seeking long-term residency.

Investment in Dubai’s real estate sector remained strong, with 217,000 investments valued at AED 526 billion, reflecting the city’s appeal as a premier destination for capital appreciation and rental income. The Dubai Real Estate Strategy 2033, which focuses on sustainable growth and transparency, has played a pivotal role in strengthening investor trust and maintaining market balance.

Marwan Ahmed Bin Ghalita, Director-General of Dubai Land Department, emphasized that the strategic focus on attracting investors from emerging markets has been instrumental in positioning Dubai as a key global real estate hub.

As Dubai continues to innovate and expand its real estate offerings, experts anticipate sustained growth supported by strategic policies, infrastructure development, and investor-friendly regulations.

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