Dubai’s Real Estate Sector Achieves Record AED761 Billion in Transactions in 2024

DUBAI, 26th January, 2025 (WAM) – Dubai’s real estate sector recorded an unprecedented 2.78 million procedures in 2024, marking the highest number in its history. This represents a 17% increase from 2023, demonstrating the sector's sustained growth and resilience.

Real estate transactions alone reached 226,000, amounting to AED761 billion, reflecting a 36% increase in volume and a 20% rise in value year-on-year.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, attributed this exceptional performance to Dubai’s dynamic economy, robust infrastructure, progressive policies, and world-class investment ecosystem.

“The remarkable results in 2024 underscore the strength and adaptability of our economy, which continues to thrive despite global shifts. The Dubai Economic Agenda D33 has been instrumental in elevating Dubai’s status as a global investment, trade, and innovation hub, further enhancing its appeal as a premier destination for living and investing,” he stated.

“The Dubai Real Estate Strategy 2033 has played a key role in fostering transparency, strengthening investor confidence, and ensuring high returns on investment. Our market remains among the world’s most attractive, not just for innovation and excellence, but also for its stability and sustainability. As we introduce new initiatives, we remain committed to making Dubai the best city to live and work in. The steady expansion of the real estate sector is also driving the D33 Agenda’s goal of positioning Dubai among the world’s top three urban economies and doubling its GDP by 2033,” he added.

Record Investments and New Investors Drive Market Growth

Dubai’s real estate market achieved historic milestones in 2024, solidifying its global investment appeal. The sector recorded 217,000 investments worth AED526 billion, reflecting a 38% increase in volume and a 27% rise in value.

Additionally, Dubai welcomed 110,000 new investors to its real estate sector, marking a 55% increase—an unprecedented achievement that underscores the emirate’s ability to attract high-quality investments and sustain sectoral growth.

Marwan Ahmed bin Ghalita, Director-General of Dubai Land Department, emphasized the significance of these figures, stating, “These indicators highlight the resilience of Dubai’s real estate market, its adaptability to global changes, and its success in attracting top-tier investments. The results reflect the emirate’s ambitious vision and ongoing efforts to enhance its investment attractiveness under the Dubai Economic Agenda D33.”

He added, “The Dubai Real Estate Strategy 2033 has been pivotal in driving this growth by doubling the sector’s contribution to GDP and fostering an integrated ecosystem centered on innovation and technology. This strategy enhances market transparency, ensures balanced supply and demand, and attracts investments from emerging markets, cementing Dubai’s status as a premier global real estate investment hub.”

Innovation and Technology Powering the Future of Real Estate

Bin Ghalita further emphasized the role of advanced technologies in enhancing investor confidence. “Attracting 110,000 new investors in a single year is a clear indicator of Dubai’s commitment to fostering a cutting-edge real estate environment. Artificial intelligence and proptech solutions have been instrumental in improving operational efficiency and ensuring the satisfaction of investors and stakeholders.”

He concluded, “The Dubai Land Department will continue collaborating with public and private sector partners to achieve new milestones, reinforcing Dubai’s vision as a leading investment destination. With its world-class infrastructure, pioneering initiatives, and legacy of innovation and excellence, the emirate is on a steady path to further cementing its global leadership.”

Dubai continues to achieve transformative milestones, reaffirming its commitment to shaping the future of real estate and achieving its ambitious vision of becoming the world’s premier destination for investment and sustainable development. Through seamless collaboration between public and private sectors, Dubai is setting new benchmarks in economic excellence and securing its leadership across industries.