Dubai real estate hits $207 billion in transactions in 2024

Post by: Omar Nasser

Dubai's real estate market reached a new record in 2024, with 2.78 million actions, the highest ever. These actions include buying, selling, and renting properties. This is 17% higher than in 2023.

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Out of these actions, there were 226,000 property deals, which were worth a total of AED 761 billion. This is a 36% increase in the number of deals and a 20% rise in their value from last year.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said the success of the real estate market comes from Dubai’s strong economy, great plans, and good infrastructure. He mentioned that Dubai’s growth has made it one of the top places for investment and business, helping the real estate market grow even more.

Sheikh Hamdan also spoke about the Dubai Real Estate Strategy 2033. This plan focuses on fairness, better returns, and making investors trust the market. He said Dubai’s real estate market is one of the best in the world for being stable, creative, and lasting. This growth is also helping Dubai reach its big goal of being one of the top three cities in the world and doubling its economy by 2033.

In 2024, Dubai’s real estate market had great results. There were 217,000 investments worth AED 526 billion, showing a 38% increase in the number of investments and a 27% increase in their value. Dubai also welcomed 110,000 new investors, which is a 55% increase.

Marwan Ahmed bin Ghalita, head of the Dubai Land Department, said these results show how strong and flexible Dubai’s real estate market is. He added that this success proves the city’s efforts to be a better place for investors. This growth also supports Dubai’s plan to be one of the top three cities in the world.

Bin Ghalita also said that the Dubai Real Estate Strategy 2033 is all about growing the market and using new technology to make it better. This plan helps keep the market fair and balanced. By using new technology, Dubai has made its real estate market more efficient and attractive for investors.

In the end, Dubai’s real estate market is growing fast. With clear goals, new technology, and teamwork between the government and private companies, Dubai is ready to continue leading in real estate around the world.

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