Dubai led the real estate market with AED760.7 billion in transactions from 226,000 deals.
UAE Real Estate Market Achieves AED893 Billion in Transactions for 2024
The UAE’s real estate market demonstrated robust performance in 2024, recording a staggering AED893 billion across 331,300 transactions in key emirates, including Abu Dhabi, Dubai, Sharjah, and Ajman.
Mortgage activity contributed significantly to this figure, amounting to AED229.3 billion across 50,000 transactions, though Ajman’s data is not included in this segment, as noted in a statement by the Emirates News Agency (WAM).
Dubai Dominates with AED760.7 Billion in Deals
Dubai emerged as the clear leader in the UAE’s real estate sector, posting AED760.7 billion in transaction value from 226,000 deals. Property sales alone contributed AED522 billion through 180,000 transactions, while mortgage deals added another AED187 billion from 35,000 transactions.
Abu Dhabi Records AED79.3 Billion in Transactions
Abu Dhabi followed with AED79.3 billion in real estate transactions from 25,046 sales and mortgages combined. The “Dari” platform, managed by the Department of Municipalities and Transport, highlighted sales of AED46.5 billion from 14,816 transactions. These included 5,646 ready properties and 9,169 off-plan units. Mortgage activity in the capital amounted to AED32.8 billion through 10,230 deals.
Sharjah Processes AED36.4 Billion in Real Estate Activity
Sharjah’s real estate sector continued its steady performance, processing AED36.4 billion in transactions between January and November 2024. The total includes AED9.5 billion in mortgage transactions. The emirate recorded 78,600 sales transactions alongside 4,011 mortgage deals, showcasing a well-balanced market.
Ajman Shows Consistent Growth with AED16.35 Billion in Deals
Ajman’s real estate market reached AED16.35 billion in transactions by October 2024, spread across 12,718 deals. This figure reflects significant market progress, following a 43% growth in 2023, when the emirate recorded AED16.9 billion in transactions from 11,500 deals.
Outlook for 2025: Promising Growth Ahead
Reports suggest that the UAE real estate market is poised for continued growth in 2025, driven by a favorable investment climate and a pipeline of exciting new projects. This optimistic outlook reaffirms the sector’s status as a key driver of the UAE’s economic expansion.
