The Dubai government’s revenues from total sales of the real estate market, during 2024, achieved a remarkable jump of 20.6% to AED 20.9 billion, at a rate of AED 1.74 billion per month, compared to about AED 16 billion (about AED 1.33 billion per month), in 2023, resulting from 4% real estate registration fees on sale and purchase deals.
The total revenues of the Dubai government from real estate sales during (2021 to 2024) amounted to about AED 53.6 billion, at a rate of 1.11 billion dirhams per month, with 2024.20.9 billion dirhams (1.74 billion dirhams per month), about 16 billion dirhams (1.33 billion dirhams per month) in 2023, 10.7 billion dirhams (625 million per month) in 2022, and touching 6 billion dirhams (500 million dirhams per month) in 2021.
Market sales amounted to more than 522 billion dirhams at the end of 2024, resulting from 180,000 transactions. The actions broke their previous numbers, reaching 760.7 billion dirhams, resulting from 226 thousand transactions with a growth of 19.8% and 36.1%, value and number respectively compared to 2023.
With regard to the top 10 regions in terms of sales during 2024, data issued by the Dubai Land Department revealed that these areas captured 31.8% of total sales, namely Business Bay, with AED 29 billion for 11611 transactions, followed by Jumeirah Weilage Circle with 20 billion dirhams, for 16979 transactions, and thirdly, Burj Khalifa with 19 billion dirhams for 4422 deals, fourthly, Palm Jumeirah, worth 19 billion dirhams for 1529 deals, and the fifth, Airport City, with 16 billion dirhams, for 2524 transactions.
In sixth place is Dubai Marina with 5,076 deals worth 13 billion dirhams, seventh «Dubai Hills region» with 12 billion dirhams for 3441 units, and eighth «Al-Tayfra 1» for 1765 deals worth 12 billion dirhams, in ninth place «Wadi Al-Safa 5» for 803 transactions of 11 billion dirhams, and in tenth place is “Palm Deira» for 728 transactions for 10 billion dirhams.
Since the beginning of 2022, the real estate sector in Dubai has continued to grow, due to many factors, foremost of which are the wise directives of the wise leadership, and the economic stimulus packages.