Dubai Real Estate Soars to New Heights: Record AED761 Billion in Transactions and 2.78 Million Procedures in 2024
Dubai's real estate sector recorded 2.78 million procedures in 2024, the highest in its history.
Real estate transactions reached 226,000 with a combined value of AED761 billion, a 36% year-on-year growth in volume and 20% rise in value.
Dubai attracted 110,000 new investors to its real estate sector in 2024, a 55% increase.
217,000 investments were recorded in the sector in 2024, valued at AED526 billion, reflecting growth rates of 38% and 27% respectively.
Dubai's real estate performance is attributed to its dynamic economy, robust infrastructure, progressive policies, and world-class investment ecosystem.
The Dubai Real Estate Strategy 2033 focuses on doubling the sector's contribution to GDP and fostering an integrated ecosystem rooted in innovation and technology.
Dubai is steadily advancing towards solidifying its position as a leading investment destination for real estate.
The exceptional results reflect the strength and resilience of Dubai's economy in a rapidly changing global landscape.
New initiatives in the real estate sector continue to be introduced to make Dubai the world's best place to live and work.
The real estate market growth boosts its contribution to Dubai's objective of becoming one of the world's top three urban economies and doubling its GDP by 2033.
Dubai Real Estate: A Record-Breaking Year in 2024
Dubai’s real estate market achieved an extraordinary milestone in 2024, recording AED 761 billion in real estate transactions, the highest in history. This remarkable achievement underscores Dubai’s position as a premier global investment destination, buoyed by visionary strategies and an unwavering commitment to excellence.
Impressive Growth Trajectory
The year witnessed 226,000 real estate transactions, a 36% year-on-year increase in volume and a 20% rise in value. Investments in the sector reached AED 526 billion across 217,000 transactions, with a 38% growth in transaction numbers and 27% in value. These figures highlight Dubai’s ability to adapt to global economic changes while maintaining its appeal as a safe and lucrative investment hub.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum attributed this success to Dubai’s dynamic economy, progressive policies, and robust infrastructure. He stated, “Dubai continues to thrive as a global hub for investment, trade, and innovation, bolstered by its world-class real estate sector.”
Attracting Global Investors
A key highlight of 2024 was the influx of 110,000 new investors into Dubai’s real estate sector, a 55% increase from the previous year. The Golden Visa programme and innovative property offerings, particularly in the off-plan market, have played a crucial role in drawing investors from emerging and established markets.
The Dubai Real Estate Strategy 2033 has been instrumental in this growth, focusing on transparency, technology integration, and meeting diverse market needs. His Excellency Marwan Ahmed bin Khalifa, Director General of Dubai Land Department, emphasized the role of prop-tech and artificial intelligence in boosting operational efficiency and investor satisfaction.
Why Invest in Dubai Real Estate?
Dubai offers overseas investors a unique blend of financial benefits and lifestyle advantages. Key incentives include:
High Returns: Dubai’s rental yields are among the highest globally, particularly in luxury and off-plan properties.
Golden Visa Benefits: The programme provides long-term residency options for property investors.
Strategic Location: Dubai is a gateway to global markets, supported by its world-class infrastructure and transport connectivity.
Tax Efficiency: No property or income taxes create a favourable environment for investment.
Vibrant Lifestyle: Dubai’s cosmopolitan appeal, excellent healthcare, education, and recreational facilities enhance its investment value.
A Vision for the Future
Looking ahead, the Dubai Economic Agenda D33 aims to solidify Dubai’s position as one of the top three urban economies globally. Real estate will play a pivotal role in this vision by fostering sustainable growth and innovation. As Dubai continues to set benchmarks in transparency, investor confidence, and technology, the emirate remains a beacon for high-net-worth individuals and global investors.
