The UAE real estate market is projected to reach AED 2.5 trillion ($681 billion) by the end of 2024, as reported by QUBE Development.
This significant growth is attributed to multiple factors, with the off-plan sector being the primary driver, accounting for 65% of total sales transactions in August 2024.
This marks a 54% increase in volume compared to the same period last year.
### Value of the UAE Real Estate Sector
According to the online data analytics platform Statista, the UAE real estate market’s value is expected to hit AED 2.5 trillion ($681 billion) by the end of 2024. QUBE Development attributes this growth to the rising number of high-net-worth individuals (HNWIs) entering the market.
These affluent investors are seeking robust opportunities, particularly in the luxury property segment, with a significant focus on the off-plan market, where numerous ultra-luxury projects and megaprojects are currently being developed.
Recently, QUBE launched its first residential project, Cubix Residences, situated in Jumeirah Village Circle (JVC).
This is just the beginning, as the company plans to invest AED 2.6 billion ($708 million) in additional inventory in the Dubai market by the end of 2025.
