Dubai’s real estate market achieved extraordinary milestones in 2024, with a record-breaking 2.78 million transactions, including property and plot deals as well as rental agreements. This marked a 17% increase compared to 2023, highlighting the sector’s continued growth.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, praised the market’s achievements in a statement reported by Gulf News. He attributed the success to Dubai’s strong economy and ongoing initiatives aimed at making the emirate a top global destination for living and investment.

Real estate-specific transactions reached 226,000, with a combined value of Dh761 billion—showing a 36% growth in volume and a 20% rise in value compared to the previous year.

Investor interest remained high, with 110,000 new investors entering the market in 2024. Dubai’s Golden Visa investment program and its reputation as a leading investment hub were major factors driving this demand. In total, 217,000 investments were recorded, valued at Dh526 billion.

Marwan Ahmed Bin Ghalita, Director-General of Dubai Land Department, highlighted that the Dubai Real Estate Strategy 2033 has played a pivotal role in this growth. The strategy focuses on doubling the sector’s contribution to the GDP and creating a balanced, transparent market to attract investments from emerging markets.

The achievements of 2024 underscore Dubai’s position as one of the world’s top real estate markets, with its ongoing developments setting the stage for even greater success in the future.