Property markets in Abu Dhabi, Dubai, Sharjah, and Ajman witnessed significant activity in transaction volumes over the past year
The UAE Real Estate Sector Continues Its Growth Journey in 2024
The real estate sector in the United Arab Emirates (UAE) demonstrated remarkable growth throughout 2024, driven by a surge in property developments and infrastructure investments. This sustained progress reinforced the sector’s position as a vital component of the nation’s economic framework.
Both Dubai and Abu Dhabi property markets gained significant momentum. Based on the latest data released by local real estate authorities across the four emirates, the total value of real estate transactions reached approximately AED 893 billion by the close of 2024.
The thriving property markets in the emirates underscored the UAE’s global reputation as a prime destination for property investments. These markets have become a magnet for high-net-worth individuals, contributing significantly to market dynamics, particularly in the luxury real estate sector.
Real estate markets in Abu Dhabi, Dubai, Sharjah, and Ajman experienced robust activity throughout the year, showcasing consistent performance levels. This was attributed to the availability of diverse investment opportunities and growing demand across various property categories.
Key Market Highlights
According to official data, the UAE’s real estate transactions amounted to an impressive AED 893 billion by the end of 2024. This figure included more than 331,300 transactions, with mortgage transactions alone exceeding AED 229.3 billion across over 50,000 transactions, excluding mortgages recorded in Ajman.
Abu Dhabi Market Performance
In Abu Dhabi, real estate activity reached a total value of AED 79.3 billion by the end of 2024, comprising 25,046 sales and mortgage transactions across different property types.
The “Dari” platform, introduced by the Department of Municipalities and Transport in Abu Dhabi, reported that sales since January totaled over AED 46.5 billion. These sales were executed through 14,816 transactions, which included 5,646 ready-unit deals and 9,169 off-plan property sales. Furthermore, the emirate recorded 10,230 mortgage transactions during 2024, valued at AED 32.8 billion.
Dubai Market Breakthrough
Dubai continued to dominate the UAE’s real estate sector, achieving record-breaking transaction values in 2024. Total transactions exceeded AED 760.7 billion, spanning 226,000 deals. This further solidified Dubai’s reputation as a hub for lucrative and diverse property investment opportunities.
The Dubai Land Department revealed that AED 522 billion worth of property sales were recorded from 180,000 transactions across various asset classes. Mortgage transactions in the emirate stood at AED 187 billion from 35,000 deals, reflecting its robust investment climate and diverse offerings.
Future Outlook
With steady growth observed across the UAE real estate markets in 2024, international experts anticipate continued expansion in 2025. This optimism is fueled by the nation’s favorable investment environment and the rollout of numerous new real estate projects designed to attract both domestic and global investors.
