The total value of commercial real estate sales in Dubai jumped during 2024 to AED 94.5 billion, resulting from 10,366 transactions, compared to about AED 88.7 billion (10,962 transactions) in 2023, an increase of 6.5% in terms of value, according to Property Monitor data. Ready commercial properties accounted for the largest share of sales, amounting to AED 90.5 billion (8,530 transactions), equivalent to about 95.7% of the total, while off-plan commercial real estate sales were limited to AED 4 billion (1,836 transactions), representing 4.3%. Ready commercial property sales increased by 6.47% in value in 2024, but declined in number by 9.3% to 8,530 transactions compared to 9,407 in 2023, indicating higher prices during the comparison period. Off-plan properties grew by 8.1% and 18% in value and number to AED 4 billion, resulting from 1,836 transactions.
Dubai’s commercial sector, which includes land allocated for commercial development, office space and retail, witnessed significant growth in 2024 compared to 2023, as demand for Class A office space increased, leading to increased occupancy rates and rental prices. These indicators reflect the strong performance of this vital market. It is worth noting that real estate sales in the emirate amounted to more than AED 522 billion at the end of 2024, resulting from 180,000 transactions.