UAE Real Estate 2024.. Incremental growth in projects and record numbers in transactions

The real estate sector in the UAE succeeded in maintaining its growth momentum during the past year 2024 at the level of real estate projects and the expansion of infrastructure investments, thus consolidating its position as one of the basic pillars supporting economic growth in the country..

The momentum witnessed by the real estate markets in the various emirates of the country reflects the importance of its location as a global center for real estate investments, and an attractive destination for wealthy individuals who play a vital role in enhancing market activity, by turning to investing in luxury real estate..

The real estate markets in the Emirates of Abu Dhabi, Dubai, Sharjah and Ajman witnessed remarkable activity in the volume of real estate transactions carried out during the past year, as these markets maintained their positive rates thanks to the diversity of investment opportunities offered and the increasing demand for real estate of various types..

Based on official data issued by local real estate departments in the four emirates, the value of real estate transactions and transactions amounted to about 893 billion dirhams at the end of last year after recording more than 331.3 thousand real estate transactions, while the value of real estate mortgages exceeded 229.3 billion dirhams, representing the implementation of more than 50 thousand transactions without permission. Real estate mortgages for the Emirate of Ajman.

Regarding the performance of the real estate sector in the emirates of the country during the past year, the volume of real estate transactions in the capital, Abu Dhabi, amounted to about 79.3 billion dirhams for 25 thousand and 46 sales and mortgage transactions on various units by the end of 2024..

According to the “Dari” platform of the Department of Municipalities and Transport in Abu Dhabi, the total value of sales since the beginning of this year until today has reached more than 46.5 billion dirhams, through the implementation of 14,816 buying and selling transactions in the emirate, distributed by 5,646 ready-made real estate unit sales transactions, And 9,169 off-plan sales transactions, while the emirate recorded 10,230 mortgages during the past 12 months. Real estate worth 32.8 billion dirhams.

The Emirate of Dubai achieved record numbers in its real estate transactions, after its value by the year 2024 reached more than 760.7 billion dirhams, resulting from 226 thousand transactions, as these numbers reflect the emirate’s leadership in providing diverse and attractive investment options and opportunities that contributed to exceeding previous records..

According to the Dubai Land Department, the emirate recorded real estate sales amounting to 522 billion dirhams, after carrying out 180,000 sales transactions on various real estate units, while the value of real estate mortgages reached 187 billion dirhams until the end of 2024, representing 35 thousand real estate mortgage transactions..

The Emirate of Sharjah continued to maintain the growth momentum of its real estate market, which succeeded in recording real estate transactions amounting to more than 36.4 billion dirhams for the period from January 2024 until the end of last November, including 9.5 billion dirhams for mortgages, according to the monthly reports of the Sharjah Real Estate Registration Department..

Thanks to its high-quality real estate projects, the real estate market in the Emirate of Sharjah recorded total sales transactions, reaching more than 78.6 thousand transactions executed during the same period, while the number of mortgage transactions reached 4,011 transactions..

The value of real estate transactions in the Emirate of Ajman exceeded 16.9 billion dirhams during the year 2023, with an exceptional growth estimated at 43% compared to the year 2022, after the implementation of 11,500 real estate transactions, while the total trading volume reached 10.2 billion dirhams out of a total of 8,675 trading transactions..

The numbers recorded in Ajman reflected the upward trend in the performance of the real estate sector in the emirate, as the market maintained its positive rates and witnessed exceptional activity in many real estate projects, thanks to the diversity of investment opportunities and the increasing direct demand for real estate of various types in all regions of the emirate..

According to the Department of Land and Real Estate Regulation in Ajman, the value of real estate transactions in the emirate until the end of last October amounted to about 16.35 billion dirhams, representing the implementation of about 12,718 real estate transactions, as this activity reflects the flexibility of the real estate market in Ajman and the diversity of its investment options..

With the achievement of positive indicators for the real estate market in the various emirates of the country during the past year 2024, international reports expect that the sector will continue its upward growth in 2025, thanks to the stimulating investment environment in the country, especially with the anticipation of the implementation of many real estate projects attracting local and international investments..