The Government of Dubai has reported a 20.6% increase in real estate revenue in 2024, totaling Dhs20.9 billion (around Dhs1.74 billion per month), up from Dhs16 billion in 2023 (approximately Dhs1.33 billion per month). This growth is partly linked to the introduction of a 4% real estate registration fee on sale and purchase transactions.
Between 2021 and 2024, total revenue from property sales reached Dhs53.6 billion, averaging Dhs1.11 billion per month. This includes Dhs20.9 billion (Dhs1.74 billion per month) in 2024, Dhs16 billion (Dhs1.33 billion per month) in 2023, Dhs10.7 billion (Dhs625 million per month) in 2022, and Dhs6 billion (Dhs500 million per month) in 2021.
By the end of 2024, market sales reached over Dhs522 billion from 180,000 transactions, reflecting a significant rise compared to the previous Dhs760.7 billion from 226,000 transactions. This marked a 19.8% increase in value and 36.1% growth in transaction numbers compared to 2023.
The top 10 areas accounted for 31.8% of sales in 2024. Business Bay ranked first with Dhs29 billion from 11,611 transactions, followed by Jumeirah Village Circle with Dhs20 billion from 16,979 transactions. Burj Khalifa and Palm Jumeirah each recorded Dhs19 billion from 4,422 and 1,529 transactions, respectively, while Airport City achieved Dhs16 billion from 2,524 transactions.
Dubai Marina ranked sixth with Dhs13 billion from 5,076 transactions, followed by Dubai Hills with Dhs12 billion from 3,441 transactions. Al Yafra 1 saw 1,765 transactions totaling Dhs12 billion, while Wadi Al Safa 5 and Palm Deira recorded Dhs11 billion (803 transactions) and Dhs10 billion (728 transactions), respectively.
Dubai’s real estate sector has experienced consistent growth since 2022, driven by strategic leadership and impactful economic stimulus measures.
