Investment in Dubai’s real estate sector reached AED526 billion through 217,000 transactions last year
Dubai’s Real Estate Transactions Hit AED 761 Billion in 2024, Marking a 20% Surge
Dubai’s real estate market achieved an impressive milestone in 2024, with the total value of transactions soaring by 20% year-on-year to AED 761 billion ($207.2 billion), according to official reports.
This record-breaking performance was attributed to the emirate’s thriving economy, world-class infrastructure, and forward-thinking policies, as highlighted by the UAE’s state-run WAM news agency.
The number of real estate transactions also witnessed a substantial 36% increase from the previous year, reaching approximately 226,000 deals.
Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum commented on the results, stating, “The exceptional achievements in 2024 showcase the remarkable strength and resilience of our economy.”
The year also saw an influx of new investors into Dubai’s real estate market. Around 110,000 new investors entered the sector, marking a significant 55% rise compared to 2023.
In October 2024, Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, approved the budget cycle for 2025-27. This plan allocates AED 272 billion for expenditures, with anticipated revenues of AED 302 billion.
For the fiscal year 2025 alone, Dubai’s expenditure has been set at AED 86 billion, with revenues projected to approach AED 98 billion.
The UAE’s overall economic outlook remains promising. The central bank’s December 2024 quarterly review indicated that the nation’s real GDP growth would remain steady at 4% in 2024, accelerating to 4.5% in 2025 and further to 5.5% by 2026.
Meanwhile, non-oil GDP growth is expected to stay robust at 4.9% in 2024 and rise to 5% in 2025. These figures are underpinned by the government’s strategic initiatives to attract foreign investments and drive economic diversification, ensuring sustainable development for the future.
