“Digitization” and “technology” enhance the growth and prosperity of the real estate sector in the Emirates

The real estate sector in the UAE has witnessed increasing growth in recent years, thanks to the accelerated digital transformation in the sector, as modern technology has contributed to drawing new features for the real estate market and enhancing its development through a set of smart services that reach a larger segment of investors and beneficiaries.

Digital transformation has contributed to improving the real estate experience for users, adding great value to the real estate market in the Emirates. Smart services have also effectively contributed to enhancing transparency and facilitating access to various real estate units, in addition to displaying analysis of real estate market data, which plays a pivotal role in making decisions accurately according to… To market trends, in front of investors and the public.

International reports expected that the UAE real estate sector would continue its growth, supported by the introduction of modern technologies and digital promotion methods adopted by smart services in displaying real estate units of different types and prices.

Digital services allow real estate developers to reach a larger segment of buyers and investors, whether within the country or at the international level, which enhances the presence of the UAE real estate market, increases opportunities to own real estate and expands the customer base, as CBRE data showed that attendance The quality of UAE real estate has strengthened the desire of many major companies to own property in the country.

A recent report issued by CBRE explained that the office market leads the real estate sector activity in the Emirates, supported by strong demand from tenants for high-quality office spaces, indicating the noticeable activity in occupancy rates in Abu Dhabi Global Market spaces, most of which are from international law firms. Which has strengthened its presence in Abu Dhabi and seeks to own real estate.

According to the report, the occupancy rate of the office assets tracked by CBRC in Abu Dhabi reached 94% during the third quarter of the current year 2024, while the occupancy rate in Dubai at the end of the third quarter reached about 93%. The residential and commercial real estate market also recorded strong performance in the same period, supported by the increasing demand for luxury real estate units.

The real estate sector in the Emirates continued to achieve new record levels in transaction volumes during the third quarter of the year, as the report indicated that the Emirate of Dubai led the real estate scene in terms of residential sales, which amounted to more than 120 billion dirhams, with a growth rate of up to 30% compared to the same period of the year. the past.

Based on data from the Dubai Land Department, rental contract registrations continued to rise on an annual basis, supported mainly by a 14% increase in the total number of registered renewal contracts.

The real estate market in the Emirate of Abu Dhabi is expected to witness remarkable growth next year 2025, thanks to the completion of a number of real estate projects across the emirate.

The years 2026 and 2027 are likely to witness a much greater increase in the number of new real estate units put on the market, which in turn will enhance rental and ownership activity in the country.