Dubai’s real estate market has recorded over AED 625 billion ($170.2 billion) in transactions in 2024, reflecting a 38% rise in transaction volume and a 23% increase in value compared to 2023. The sector achieved over 188,000 transactions, with property sales surpassing AED437 billion ($119 billion) for the first time, showcasing a 33% year-on-year growth.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, highlighted the sector’s significant contributions during a review of Dubai Land Department (DLD) operations. The meeting at The Executive Office underscored the alignment of the real estate sector’s development with the objectives of the Dubai Real Estate Sector Strategy 2033. This strategy aims to enhance Dubai’s position as a global hub for real estate investment and economic growth.
Sheikh Hamdan emphasized that Dubai’s secure investment environment, backed by robust laws and regulations, continues to attract global investors, businesses, and talent. He noted that the sector’s expansion is critical to sustaining the emirate’s economic momentum and supporting comprehensive development.
Marwan Ahmed bin Ghalita, Director General of DLD, briefed Sheikh Hamdan on initiatives driving innovation, fostering public-private partnerships, and leveraging advanced technologies to enhance investor experiences. These efforts align with the Dubai Economic Agenda D33, which aims to position Dubai among the world’s top three urban economies by 2033.
The meeting was attended by key officials, including Omar bin Sultan Al Olama, UAE Minister of State for Artificial Intelligence. Sheikh Hamdan commended the sector’s achievements and reiterated its role as a cornerstone of Dubai’s economy.
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