Dubai's Real Estate Market Hits New Heights: 226,000 Transactions Worth AED761 Billion In 2024

Dubai's real estate sector achieved a record 2.78 million procedures in 2024, marking its highest activity ever. These procedures, including real estate transactions and rental agreements, increased by 17% compared to 2023.

The sector recorded 226,000 real estate transactions worth AED761 billion, reflecting a 36% rise in transaction volume and a 20% increase in value compared to the previous year.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum credited Dubai's record-breaking real estate performance to its strong economy, advanced infrastructure, forward-thinking policies, and attractive investment environment, WAM reported.

In 2024, Dubai's real estate market achieved remarkable milestones, with 217,000 investments worth AED526 billion, reflecting growth rates of 38% in volume and 27% in value. Furthermore, the sector attracted 110,000 new investors, a 55% increase.

These achievements highlight Dubai's global leadership in building a world-class investment ecosystem that drives sustainable growth in the real estate sector.

Al Maktoum stated that the 2024 results highlight Dubai's economic strength and adaptability in a rapidly changing world. The Dubai Economic Agenda D33 has played a key role in positioning the emirate as a global hub for investment, trade, and innovation.

This vision has boosted Dubai's appeal as a destination for both lifestyle and investment, driving the growth of its real estate market. Under the Dubai Real Estate Strategy 2033, the real estate sector continues to enhance transparency, investor confidence, and returns on investment while meeting diverse market needs.

Dubai's real estate market is recognized as one of the best globally, prioritizing innovation, excellence, stability, and sustainability. The sector also plays a significant role in supporting Dubai Economic Agenda D33, which aims to position Dubai among the top three global urban economies and double its GDP by 2033.

Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, highlighted that the success of Dubai's real estate market in 2024 reflects its resilience, adaptability, and ability to attract quality investments.

He attributed this achievement to the emirate's vision and efforts to improve its investment appeal under the Dubai Economic Agenda D33, aiming to make Dubai one of the top three urban economies.

Bin Ghalita also emphasized that attracting 110,000 new investors in 2024 shows the success of Dubai's efforts to boost global investor confidence. This growth is supported by advanced technologies like artificial intelligence and proptech, which enhance operational efficiency and investor satisfaction.