Dubai’s real estate market has recorded over 188,000 transactions, exceeding AED 625bn ($170.2bn) in value this year, according to Dubai Land Department (DLD) data.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of Dubai’s Executive Council, reviewed the operations of the DLD.
He also assessed progress toward the Dubai Real Estate Sector Strategy 2033, which aims to fulfil Sheikh Mohammed bin Rashid Al Maktoum’s vision of positioning Dubai as a global economic hub and leading real estate investment destination.
Sheikh Hamdan noted the sector’s strong growth reflects Dubai’s rapid development and growing global appeal for businesses, investors, and talent.
He emphasised that Dubai’s economic momentum necessitates expanding real estate projects, creating more opportunities for local and international investors.
Dubai’s secure investment environment, underpinned by laws protecting investor rights and capital, has been key to the sector’s remarkable performance.
During a meeting at The Executive Office, Marwan Ahmed bin Ghalita, DLD’s Director General, updated Sheikh Hamdan on key initiatives supporting the Dubai Economic Agenda D33. The agenda aims to elevate Dubai to a top-three global urban economy by integrating advanced technologies, centralising data, and enhancing investor and customer experiences.
The meeting, also attended by Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence and Director General of the Dubai Crown Prince’s Office, highlighted the real estate sector’s critical role in Dubai’s economy and its contributions to comprehensive development.
The DLD’s Director General outlined goals for the Real Estate Sector Strategy 2033, focusing on innovation and technology to solidify Dubai’s leadership in real estate investment.
Initiatives were discussed to foster innovation through stakeholder collaboration, enhance public-private partnerships, support sustainable solutions, and boost customer satisfaction via advanced AI technologies.
By November 2024, Dubai’s real estate transactions rose by 38% in volume and 23% in value compared to 2023, with sales exceeding AED 437bn ($119bn), marking a 33% growth from the previous year.
