His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Executive Council of the Emirate of Dubai, said that the Dubai real estate sector is strong and resilient, stressing the determination to continue supporting this sector and enhancing its value to one trillion dirhams by 2033.
His Highness added, while reviewing the record results achieved by the real estate sector in the Emirate of Dubai during the year 2024, that the record performance of the real estate sector in Dubai is due to its dynamic economy and strong infrastructure. His Highness attributed the strong growth of the main economic sectors in the emirate to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, may God protect him.
The results of the real estate sector during the year 2024 showed that real estate sales achieved remarkable growth after recording 217,000 sales worth 526 billion dirhams, with a growth of 38% in number and 27% in value, respectively, while Dubai attracted 110,000 new investors in the real estate sector, with a growth of 55%. 2.78 million real estate transactions were completed, which is the highest number ever in its history in terms of total real estate transactions.
Dynamic economy
In detail, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense and Chairman of the Executive Council of the Emirate of Dubai, confirmed that the record performance of the real estate sector in Dubai is due to its dynamic economy, strong infrastructure, and strong and thriving ties with the local investment community. And the global.
His Highness attributed the strong growth of the main economic sectors in the emirate to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, and His Highness’s permanent directives to mobilize all efforts to prepare for a future whose title is prosperity and prosperity, as this vision remains a source of inspiration. From which various sectors derive the motivation to rise to higher levels of performance and provide stronger results year after year.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: “The exceptional results of the real estate sector in 2024 reflect the great strength and flexibility of Dubai’s economy, which enabled it to continue growth in a rapidly changing global landscape, in light of the ambitious goals included in the (Dubai Economic Agenda). D33), a translation of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, towards raising the emirate’s position as an international center for investment, trade and innovation, and enhancing its global appeal as a preferred destination for living. Work and investment.
His Highness added: “Thanks to (Dubai Real Estate Strategy 2033), the sector continues to raise standards of transparency, increase return on investment, and consolidate investor confidence while meeting the needs of the diverse market, so that the real estate market in Dubai remains among the best in the world in terms of returns, with a strong focus not only On innovation and excellence, but also on the stability and sustainability of the reasons for growth. We are keen to continue organizing the market in a way that makes Dubai the best place to live and work in the world, and one of the three largest urban economies, and to double its gross domestic product by the year 2033».
Record numbers
In a blog post by His Highness on the “X” website, he said: “The Dubai real estate sector continues to record strong growth rates and new records, and during 2024, more than 2.78 million real estate transactions were completed, and the value of transactions reached 761 billion dirhams, and the value of real estate investments, registered with The department, for more than 526 billion dirhams, and the Dubai real estate market attracted 110,000 new investors, with a record growth rate of 55%.
His Highness added: “Dubai’s real estate sector is strong and resilient, and we are determined to continue supporting this sector and enhancing its value to one trillion dirhams by 2033. We thank the Dubai Land Department team, led by Engineer Marwan bin Ghalita, for their efforts, and we look forward to more achievements and innovations.” “This supports the growing momentum in Dubai, the world’s premier destination for real estate investments.”
Exceptional performance
This came during a briefing by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum on the record results achieved by the real estate sector in the Emirate of Dubai during the year 2024, as the sector recorded an exceptional performance that reflects Dubai’s position as a global investment destination, as 2.78 million real estate transactions were completed this year. This is the highest number ever in its history in terms of total real estate transactions (including real estate transactions and rental transactions), achieving an increase of 17% compared to a year ago. 2023, while the number of real estate transactions reached 226 thousand transactions with a total value of 761 billion dirhams, a growth of 36% in number and 20% in value compared to the same period.
Investors’ destination
Confirming the global investment attractiveness of the real estate market in Dubai, real estate sales achieved remarkable growth after recording 217,000 sales worth 526 billion dirhams, with a growth reaching 38% in number and 27% in value, respectively, while Dubai attracted 110,000 new investors in the real estate sector with growth. 55%, which confirms Dubai’s pioneering role in providing an ideal investment environment that attracts investors from around the world.
Market flexibility
The Director General of the Dubai Land Department, Engineer Marwan bin Ghalita, said: “These indicators represent tangible evidence of the flexibility of the real estate market in Dubai and its ability to keep pace with global changes and attract quality investments. The results achieved in 2024 also reflect Dubai’s ambitious vision and its continuous efforts to enhance its attractiveness.” Investment under the guidance of our wise leadership, and within the framework of Dubai’s D33 Economic Agenda, which aims to consolidate the emirate’s position among the top three economic cities in the world.”
He added: “The Dubai Real Estate Sector Strategy 2033 was a major driver in this growth, by focusing on doubling the sector’s added value in the gross domestic product, and supporting an integrated system based on innovation and technology, that enhances transparency and balances supply and demand. This strategy aims to attract investments from promising markets, which consolidates Dubai’s position as a global center for real estate investment.”
He continued: “Attracting more than 110,000 new investors in the real estate sector over the past year is an indication of the efforts aimed at enhancing the confidence of global investors. This achievement is also evidence of Dubai’s commitment to developing an advanced real estate environment managed with the latest artificial intelligence and real estate technology, which… It contributes to increasing operational efficiency and achieving the satisfaction of investors and customers alike.”
He concluded by saying: “The Dubai Land Department continues to work, side by side, with its partners in the public and private sectors to achieve more achievements that support Dubai’s future vision and contribute to achieving the strategic goals, at a time when the emirate is moving forward with confident steps towards confirming its position.” “It is a leading investment destination, thanks to its advanced infrastructure, pioneering initiatives, and long legacy of innovation and excellence.”
Readiness to lead the future
As Dubai continues to achieve these qualitative and historical leaps, the emirate confirms its readiness to lead the future and achieve its ambitious goals of becoming the world’s premier destination for real estate investment and sustainable development. By focusing on integration between the public and private sectors, Dubai continues to provide a global model to be emulated in achieving economic excellence. Supporting its strategic vision and enhancing its leadership in various sectors.
Hamdan bin Mohammed:
• The strong growth of the main economic sectors in the emirate is based on the vision and directives of Mohammed bin Rashid to prepare for a future of prosperity and well-being.
• The real estate sector continues to raise standards of transparency, increase return on investment, and consolidate investor confidence, while meeting the needs of the diverse market.
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