Source: Gulf News

Dubai's real estate market had a record-breaking year in 2024, with a total of 2.78 million procedures across property and plot deals as well as rental agreements. This figure marks a 17% increase from 2023, underscoring the strength and growth of the sector.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attributed the stellar performance to Dubai's resilient economy and the ongoing initiatives under the Dubai Economic Agenda D33, which have bolstered the emirate's global appeal as an investment and lifestyle destination.

Real estate-specific transactions reached 226,000, valued at Dh761 billion, a 36% growth in volume and 20% growth in value year-on-year. The sector also saw a strong influx of investors, with 110,000 new participants, driven by the popularity of the Golden Visa program and Dubai's status as a top investment destination.

In total, Dubai recorded 217,000 investments amounting to Dh526 billion, reflecting the increasing confidence in the market. The Dubai Real Estate Strategy 2033 has played a crucial role in this growth, aiming to double the sector’s contribution to the city’s GDP by creating an integrated and transparent real estate ecosystem.