Dubai real estate sector achieved historic growth in 2024, with transactions reaching AED 761 billion. This reflects remarkable progress in the emirate’s property market.
The sector recorded 2.78 million procedures, including real estate transactions and rental agreements. This marks a 17% increase compared to 2023. Real estate transactions alone reached 226,000, showing a 36% growth in volume and a 20% rise in value year-on-year.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum attributed the exceptional performance to Dubai’s dynamic economy and progressive policies. He said, “These results highlight Dubai’s resilience and its ability to thrive despite global challenges. The Dubai Economic Agenda D33 has strengthened the emirate’s position as a global hub for investment, innovation, and trade.”
Furthermore, the Dubai Real Estate Strategy 2033 has played a pivotal role in driving growth and improving transparency. The strategy emphasizes meeting diverse market needs, boosting investor confidence, and promoting sustainability. Under its framework, Dubai’s real estate market has become a global leader in innovation and excellence.
In addition to the record figures, Dubai recorded 217,000 investments worth AED 526 billion. This reflects a 38% increase in transactions and a 27% rise in value. The sector also attracted 110,000 new investors, representing a 55% year-on-year growth.
Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, noted the sector’s adaptability and success in attracting quality investments. He said, “These results show Dubai’s ability to remain competitive while building an advanced investment ecosystem. The achievements align with the Dubai Economic Agenda D33, which aims to place Dubai among the world’s top three urban economies.”
Additionally, artificial intelligence and proptech solutions have enhanced operational efficiency and investor satisfaction. These technologies ensure a streamlined and innovative real estate environment.
Dubai’s public and private sectors continue to collaborate closely, setting new benchmarks for economic excellence. Through its visionary initiatives and advanced infrastructure, the emirate is steadily achieving its goal of becoming the world’s leading real estate destination.
