UAE Real Estate Market Booms in 2024 with Record-Breaking Transactions and Growth

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The UAE real estate sector experienced unprecedented growth in 2024, firmly establishing itself as a cornerstone of the nation’s economy. With record-breaking transaction values and a surge in real estate projects, the sector continued to attract both domestic and international investors, underscoring the UAE’s reputation as a premier global property hub.

A Thriving Real Estate Landscape Across the Emirates

Major emirates like Dubai, Abu Dhabi, Sharjah, and Ajman reported remarkable performances in 2024, driven by diverse investment opportunities and an increasing demand for residential and commercial properties. The sector’s growth was bolstered by strategic infrastructure investments and its appeal to high-net-worth individuals, particularly in the luxury real estate segment.

According to official data, the UAE recorded over 331,300 real estate transactions in 2024, amounting to a staggering AED893 billion in total value. Mortgage transactions alone exceeded AED229.3 billion, reflecting the robust health of the property market.

Dubai: Leading the Way with Record Transactions

Dubai set new benchmarks in 2024, achieving over AED760.7 billion in real estate transaction values across 226,000 transactions. Of these, AED522 billion came from property sales, while AED187 billion was generated through mortgage transactions. The emirate’s ability to provide diverse and lucrative investment opportunities cemented its position as a leader in the global real estate market.

Abu Dhabi: Strong Growth Backed by Innovation

Abu Dhabi’s real estate market also flourished, with total transactions reaching AED79.3 billion by the end of the year. The “Dari” platform, introduced by the Department of Municipalities and Transport, played a pivotal role in driving sales, which totaled over AED46.5 billion. Notably, 10,230 mortgage transactions valued at AED32.8 billion underscored the emirate’s growing appeal to investors.

Sharjah: Consistent and Resilient Growth

Sharjah continued its upward trajectory, reporting real estate transactions worth over AED36.4 billion between January and November 2024. The emirate executed more than 78,600 sales transactions, driven by unique real estate projects and increasing investor confidence. Mortgage transactions accounted for AED9.5 billion, further highlighting the sector’s resilience.

Ajman: A Rising Star in the UAE Real Estate Sector

Ajman emerged as a rising star in 2024, with real estate transaction values surpassing AED16.9 billion, marking an impressive 43% growth compared to the previous year. The emirate’s thriving property market saw over 12,718 transactions by the end of October, reflecting its growing appeal to investors seeking affordable yet high-yield opportunities.

Positive Outlook for 2025

With a robust performance across all emirates, the UAE real estate market is poised for continued growth in 2025. Industry experts anticipate the launch of new projects and further infrastructure investments, creating opportunities for local and international investors alike. The country’s favorable business environment, coupled with its strategic geographic position, ensures sustained interest in its dynamic real estate sector.

The UAE’s commitment to innovation, sustainability, and economic diversification positions its property market as one of the most attractive globally. As the sector continues to grow, it remains a vital contributor to the nation’s economic success.

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