The Dubai Real Estate Strategy was launched to support the Emirates booming property sector. They target an AED 1 tn $272 bn in the property market. Here we get the roadmap of strategy and impact of transaction volume and reinforcement for international investors.
Dubai Real Estate Strategy 2033:
In the first nine months of 2024, Dubai Real Estate recorded over 163,000 transactions, amounting to more than AED544bn ($151bn). Marwan Ahmed bin Khalifa, Director-General of Dubai Land Department, announced the strategy and emphasized the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The strategy aims to make Dubai a role model for regional and global leaders.
Investment & Ambitions :
Nowadays, the UAE ranks among the top global investment destinations and international real estate hotspots. Coordinating with the Dubai Economic Agenda D33, Dubai Social Agenda 33, and the Dubai 2040 Urban Master Plan, this strategy strengthens Dubai’s position. Investing in Dubai offers so many facilities like a high-quality lifestyle, long-term investment, and increasing market appeal. The Dubai Real Estate Sector Strategy 2033 targets ambitious objectives through a set of key performance indicators, which are:
- Doubling the real estate sector’s contribution to Dubai’s GDP to approximately AED73bn ($19.9bn)
- Increasing homeownership rates to 33 percent
- Growing real estate transactions by 70 percent
- Raising the market value to AED1tn ($272bn)
- Expanding the value of Dubai’s real estate portfolios 20 times to AED20bn ($5.4bn)
The strategic roadmap built high-quality standards with increasing transparency and high value of real estate assets and investment. A focal point is emerging markets. In this sector, both investors and end-users facilitated deploying Artificial Intelligence, enhancing data centralization, and offering a seamless, integrated experience. The strategy is aimed at a series of ten-year programs that are:
- Transparency and Global Marketing Program
- Data and Governance Program
- Flexible Urban Planning Program
- Real Estate Investment Funds Program
- Affordable Housing and Real Estate Sustainability Program
- Program to Enhance Emirati Competitiveness in the Real Estate Sector
The real estate sector positioned high in Dubai and created new milestones with their empowerment of national talent and their fluent involvement in this crucial field. Here, the Real Estate Evolution Space (REES) is a key initiative that aims at developing Dubai’s leadership in real estate technology and Artificial Intelligence.
