Dubai’s Real Estate Sector Achieves AED 761 Billion in Transactions for 2024, Paving the Way for 2033 Objectives
A Record 2.78 Million Procedures in 2024
Hamdan bin Mohammed: Dubai’s Real Estate Market Stands Among the World’s Best
His Highness stated: “We continue to launch innovative initiatives to fulfill our vision of making Dubai the top place to live and work.”
- Real estate transactions reached an impressive 226,000 in 2024, valued at AED 761 billion, reflecting a 36% increase in volume and a 20% rise in value year-on-year.
- The sector witnessed 217,000 investments in 2024, valued at AED 526 billion.
Marwan Ahmed bin Ghalita: The resilience and adaptability of Dubai’s real estate market remain unmatched, with its ability to attract quality investments.
- “We are committed to achieving further milestones in collaboration with our public and private sector partners, ensuring the fulfillment of Dubai’s strategic vision.”
Dubai’s real estate sector reached new heights in 2024, achieving a total of 2.78 million procedures—the highest in its history. This figure, which includes real estate transactions and rental agreements, represents a 17% increase compared to 2023. Specifically, real estate transactions totaled 226,000 with a combined value of AED 761 billion, reflecting a 36% rise in volume and a 20% increase in value year-on-year.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, attributed this performance to Dubai’s robust economy, advanced infrastructure, and forward-thinking policies. “The outstanding results in 2024 showcase the deep resilience of Dubai’s economy, which continues to thrive despite global challenges. Our visionary Dubai Economic Agenda D33 has further elevated the city’s reputation as a global hub for investment, trade, and innovation, driving its appeal as both a lifestyle and business destination, and reinforcing growth in the real estate market.”
“Guided by the Dubai Real Estate Strategy 2033, the sector has set benchmarks for transparency, investor confidence, and high returns. Dubai’s real estate market is recognized among the world’s best, balancing innovation with stability and sustainability. By continually introducing groundbreaking initiatives, we aim to make Dubai the foremost city to live and work in. The consistent growth of the real estate market directly contributes to the objectives of the D33 Agenda, aiming to position Dubai among the world’s top three urban economies and doubling its GDP by 2033,” His Highness added.
A Global Investment Hub
Dubai’s real estate market reached remarkable milestones in 2024, solidifying its status as a leading investment destination. The sector recorded 217,000 investments worth AED 526 billion, reflecting a 38% rise in the number of investments and a 27% growth in value. Notably, 110,000 new investors entered Dubai’s real estate market in 2024, marking a significant 55% increase. These accomplishments underscore Dubai’s ability to attract international investors, foster sustainable growth, and maintain its reputation as a global real estate investment hub.
His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, stated: “These results reflect the strength of Dubai’s real estate market, its capacity to adapt to global trends, and its success in drawing premium investments. The outcomes align with the ambitious goals of the Dubai Economic Agenda D33, which aims to place the city among the top three urban economies globally.”
His Excellency added: “The Dubai Real Estate Strategy 2033 has been instrumental in this progress, focusing on doubling the sector’s GDP contribution and fostering an ecosystem grounded in innovation and technology. The strategy emphasizes transparency and maintaining equilibrium between supply and demand while targeting investments from emerging markets. These efforts solidify Dubai’s position as a global leader in real estate investment.”
Pioneering Innovation and Technology
His Excellency further highlighted the achievement of attracting 110,000 new investors to Dubai’s real estate sector in 2024, emphasizing the city’s ongoing efforts to build global investor trust. “This milestone reflects Dubai’s focus on leveraging advanced artificial intelligence and proptech solutions to enhance the real estate environment. These technologies improve operational efficiency and elevate satisfaction among investors and stakeholders.”
He concluded: “The Dubai Land Department will continue collaborating with both public and private sector partners to achieve even greater milestones, supporting Dubai’s vision for the future. We remain confident in the emirate’s trajectory toward becoming a global leader in real estate investment, driven by its cutting-edge infrastructure, bold initiatives, and legacy of innovation and excellence.”
Dubai’s ongoing achievements reflect its dedication to shaping the future of real estate, achieving sustainable development, and realizing its ambition of becoming the world’s premier destination for real estate investment. By fostering strong public-private sector partnerships, the city is setting new benchmarks for economic excellence, advancing its strategic vision, and leading globally across multiple industries.
