Dubai Real Estate Hits Record High with Dh761 Billion in Transactions for 2024

Dubai's real estate sector has achieved a remarkable milestone, recording a staggering Dh761 billion in transactions throughout 2024. This figure represents a 36% increase in volume and a 20% increase in value compared to the previous year, with over 226,000 real estate transactions conducted. The total number of procedures—including rental agreements—hit 2.78 million, marking a 17% increase from 2023.

Key Highlights:

New Investors: The sector attracted 110,000 new investors, a 55% increase, bolstering its reputation as a premier investment destination.

Investment Volume: A total of 217,000 investments valued at Dh526 billion were recorded, showing growth rates of 38% in number and 27% in value.

Visionary Leadership: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum attributed this success to Dubai's dynamic economy, robust infrastructure, and the strategies outlined in the Dubai Economic Agenda D33.

Strategic Insights:

Marwan Ahmed bin Ghalita, the DirectorGeneral of the Dubai Land Department, emphasized the resilience and adaptability of Dubai's real estate market amidst global changes. The Dubai Real Estate Strategy 2033 aims to double the sector's contribution to the GDP and enhance transparency while fostering an integrated ecosystem grounded in innovation and technology.

Future Aspirations:

Dubai aims to solidify its position as a leading global hub for real estate investment and sustainable development. The collaboration between public and private sectors is set to continue driving new standards of economic excellence, reinforcing the emirate’s standing as a top destination for investors worldwide.

This impressive growth not only highlights the strength of Dubai's real estate sector but also reflects broader economic confidence and investment attractiveness in the region. If you're interested in more specific data or aspects of this development, feel free to ask!

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