Dubai's real estate market delivered a landmark performance in 2024, recording more than 188,000 transactions with a combined value of AED 625 billion ($170.2 billion) — a 38% increase in volume and a 23% rise in value compared to 2023. Dubai Land Department Director Sultan bin Abdullah bin Sultan bin Zayed Al Nahyan presented the results to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Chairman of The Executive Council of Dubai, underscoring the sector's central role in the emirate's economic development.
Sheikh Hamdan Credits Dubai's Investment Climate
Sheikh Hamdan attributed the record growth to Dubai's continued success in drawing international capital, corporate entities, and human talent. He pointed to the emirate's secure investment environment — underpinned by clear legislation and strong investor protections — as the primary reason Dubai remains one of the world's most attractive property markets.
The briefing also brought together Minister of State for Artificial Intelligence Omar bin Sultan Al Olama and other senior officials to review progress under the Dubai Real Estate Sector Strategy 2033. The strategy supports the broader Dubai Economic Agenda D33, which aims to place Dubai among the three leading urban economic powerhouses globally by advancing the real estate sector through technology, innovation, and sustainability.
DLD Sets a Trillion-Dirham Target
DLD Director General Marwan Ahmed bin Ghalita outlined key programmes designed to deepen institutional integration, strengthen public-private partnerships, and improve customer service through artificial intelligence. He also presented a clear vision: growing annual real estate sales to AED 1 trillion ($272 billion) within the next ten years.
Property Sales Rise 33% Year-on-Year
Total property sales in Dubai reached AED 583 billion ($158 billion) in 2024, up 33% from AED 437 billion ($119 billion) in 2023. Sheikh Hamdan reaffirmed the sector's importance to Dubai's overall development while calling for continued expansion to keep pace with the emirate's rapid economic growth.
Dubai Remains a Top Global Real Estate Destination
Despite ongoing global economic uncertainty, Dubai's disciplined approach to market development and its proven ability to attract international investors have cemented its position as a leading global real estate hub. The combination of investor-friendly regulation, a booming population, and a clear long-term strategy under the Dubai Real Estate Sector Strategy 2033 points to sustained momentum in the years ahead.
