Dubai real estate sales in 2024 have outperformed their counterparts in the entire UK, thanks to the continued influx of wealthy people from around the world and the emirate’s increasing attractiveness as a destination for money, business, tourism, work and living, and with the support of the UAE’s effective economic policies, stimulating legislation and continuous improvements in all sectors, especially the real estate sector. Dubai real estate sales have recorded about AED 390 billion since the beginning of the year through 135,000 transactions, thus approaching the record total sales recorded last year at AED 400 billion, which resulted from 129,000 transactions.
Mohamed Alabbar, founder of Emaar Properties, said that real estate sales in Dubai since the beginning of 2024 have exceeded sales achieved in the entire UK, noting that they have outperformed by about 6 times compared to Singapore’s sales in 2023.
He explained that Emaar intends to pump investments worth AED 20 billion into the construction sector in 2025, within the company’s annual investment rate, which ranges between AED 20 and 25 billion. On the sidelines of the launch of the second phase of the Dubai Real Estate Broker Program in Dubai yesterday, Mohamed Alabbar added that 2023 was a special year for the real estate market in Dubai, as real estate sales recorded record numbers, with sales exceeding 120,000 residential units.