Islamabad, Jan 14: The UAE real estate sector shattered records in 2024, with Dubai leading the charge by surpassing AED 760.7 billion in transaction value from 226,000 transactions. Across the emirates, real estate continued to be a cornerstone of the nation’s economic growth, driven by increased investment initiatives and infrastructure expansion. This remarkable performance reinforced the UAE’s position as a global hub for property investment, particularly appealing to high-net-worth individuals in the luxury segment.
Strong Performances Across Emirates
Major emirates like Abu Dhabi, Dubai, Sharjah, and Ajman exhibited robust activity, with real estate transactions collectively reaching AED 893 billion across 331,300 deals. Mortgage transactions alone accounted for AED 229.3 billion from over 50,000 deals. The diversity in property types and a surge in demand propelled market growth across all segments.
Abu Dhabi saw AED 79.3 billion in real estate transactions from 25,046 sales and mortgages. The “Dari” platform facilitated AED 46.5 billion in sales, including completed and off-plan properties, while mortgage deals contributed AED 32.8 billion. These figures underscore the emirate’s steady growth and investor confidence.
Dubai’s Record-Breaking Success
Dubai achieved a landmark year, with AED 522 billion in property sales and AED 187 billion in mortgage transactions. The city’s diverse offerings and robust regulatory framework continue to attract global investors, ensuring its position as a top-tier real estate market.
Sharjah and Ajman Exhibit Resilience
Sharjah maintained strong momentum, reporting AED 36.4 billion in transactions, including AED 9.5 billion in mortgages. Over 78,600 sales were recorded, reflecting the emirate’s strategic development and diverse property portfolio. Ajman’s sector also flourished, with AED 16.9 billion in transactions, marking a 43% increase over 2022. The emirate’s affordability and innovative projects have consistently driven growth.
Looking Ahead to 2025
However, The UAE real estate market shows no signs of slowing down. Favorable policies and upcoming projects will sustain growth in 2025. Local and international investors will gain from the dynamic property market, driving growth across all emirates.
