Dubai's Real Estate Market Stays Among the World’s Best: Hamdan bin Mohammed

Post by: Layla Badr

Photo: Dubai Government Media Office

Dubai’s real estate market has achieved a remarkable milestone in 2024, with a record AED761 billion in transactions. This growth is a significant step toward reaching the city’s ambitious goals for 2033. Dubai’s real estate sector recorded 2.78 million procedures, the highest in its history, which includes real estate transactions and rental agreements. This was a 17% increase compared to the previous year. Real estate transactions alone reached 226,000, with a total value of AED761 billion, showing a 36% increase in volume and a 20% rise in value from last year. Along with this, 217,000 investments worth AED526 billion were made in the sector, reflecting an impressive growth rate.

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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai praised the real estate market’s outstanding performance. He pointed out that the growth was a result of Dubai’s dynamic economy, strong infrastructure, progressive policies, and world-class investment environment. He explained that these achievements also reflect the leadership’s vision outlined in the Dubai Economic Agenda D33, which aims to position Dubai as a top global hub for investment, trade, and innovation. This vision is making Dubai an even more attractive destination for both lifestyle and investment, helping the real estate sector to thrive.

Dubai’s Real Estate Strategy 2033 is also playing a crucial role in the market’s success. This strategy focuses on increasing transparency, boosting investor confidence, and ensuring a strong return on investment. Dubai’s real estate market is not only about innovation and excellence but also stability and sustainability. The market’s steady growth is a key contributor to Dubai’s D33 Agenda, which aims to make Dubai one of the world’s top three urban economies and double its GDP by 2033.
In 2024, Dubai attracted 110,000 new investors to the real estate sector, marking a significant 55% increase. The sector recorded a total of 217,000 investments worth AED526 billion, showing impressive growth in both the number and value of investments. These milestones reinforce Dubai’s position as a leading global investment hub, attracting high-quality investments from around the world.

Eng. Marwan Ahmed bin Ghalita, the Director General of Dubai Land Department, highlighted the resilience of the Dubai real estate market. He emphasized that these results are a testament to the market’s ability to adapt to global changes and its success in attracting high-quality investments. He also mentioned that the Dubai Real Estate Strategy 2033 is helping the city’s economy grow by improving transparency, balancing supply and demand, and fostering a tech-driven real estate ecosystem.
Dubai’s efforts to modernize its real estate sector are also reflected in its use of cutting-edge technologies like artificial intelligence and proptech solutions. These innovations help improve operational efficiency and ensure that both investors and stakeholders are satisfied.

Looking ahead, Dubai is determined to continue its progress, working with both public and private sector partners to achieve even more milestones. The city’s advanced infrastructure, innovative initiatives, and dedication to excellence will continue to solidify its position as one of the top destinations for real estate investment and sustainable development. Dubai’s commitment to shaping the future is clear, and with ongoing collaboration, it is on track to achieve its goal of being a global leader in real estate and economic growth.

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