Staff Report
Dubai, UAE
As many as 331,300 real estate transactions were recorded in Abu Dhabi, Dubai, Sharjah, and Ajman, soaring to a staggering Dh893 billion in 2024, reflecting UAE as a lucrative property investment hub, Emirates News Agency (WAM) reported. Market confidence is strengthened through sustained property launches and on-time handovers, attracting local and foreign investments. This reflects the vibrancy of the UAE’s real estate sector which is a driving force for the country’s economy.
In 2024, the real estate sector in Abu Dhabi, Dubai, Sharjah, and Ajman recorded notable activity in transaction volumes, influenced by diverse investment opportunities and growing demand for various property types. The luxury segment particularly saw remarkable growth due to the influx of high-net-worth individuals into the country.
According to official data from the local real estate authorities, out of the total value, mortgage transactions exceeded Dh229.3 billion, encompassing over 50,000 transactions in Abu Dhabi, Dubai, and Sharjah.
In the capital, the total real estate transactions amounted to Dh79.3 billion through 25,046 sales and mortgage transactions across various property types by the end of 2024.
As per Dari, Abu Dhabi’s unified real estate platform, total sales in 2024 exceeded Dh46.5 billion, executed through 14,816 sales and purchase transactions. These included 5,646 transactions for ready units and 9,169 for off-plan properties. Over the past 12 months, the emirate recorded 10,230 mortgage transactions valued at Dh32.8 billion.
Dubai achieved record-breaking real estate transaction values in 2024, totalling over Dh760.7 billion from 226,000 transactions. Based on Dubai Land Department’s data, property sales in the emirate reached Dh522 billion through 180,000 sales transactions. Mortgage transactions amounted to Dh187 billion from 35,000 mortgages by the end of 2024.
In the first 11 months, Sharjah recorded transactions worth over Dh36.4 billion, including Dh9.5 billion in mortgage transactions, according to the monthly reports from the Sharjah Real Estate Registration Department. Sales transactions amounted to 78,600, while 4,011 mortgages were recorded during this period.
The Ajman Department of Land and Real Estate Regulation reported that total real estate transactions in the emirate reached 12,718 transactions, amounting to Dh16.35 billion by the end of October 2024.
In Ajman, real estate transaction values exceeded Dh16.9 billion in 2023, reflecting 43 percent growth compared to 2022. A total of 11,500 real estate transactions were executed, with total trade volumes reaching Dh10.2 billion across 8,675 trading activities.
The overall performance of UAE’s real estate sector exhibits the resilience of the market, forecasting further growth backed by increased investments and diverse developments.
Ends
Also read: New Dubai housing programme to create 3,004 homes for citizens
