UAE Real Estate: Property Market Records High Growth in H1 2024; Dubai Transactions Hit $94bn

Dubai led with over 12 new projects from companies like Emaar, Deyaar, and Dubai Investments, including an expansion of The Dubai Mall

The UAE’s real estate sector continued to grow in the first half of 2024, attracting investment due to the country’s economic stability and new projects meeting rising demand.

According to the Emirates News Agency (WAM), major real estate companies launched numerous large-scale projects since the start of the year, offering diverse investment options.

Dubai led with over 12 new projects from companies like Emaar, Deyaar, and Dubai Investments, including an expansion of The Dubai Mall.

The emirate completed about 6,600 new residential units, bringing the total to 736,000, with 20,000 more expected in the second half of 2024.

The Dubai Land Department reported that the sector attracted around 50,000 new investors, with real estate transactions reaching AED346 billion ($94.2 billion approximately), a 23 percent increase year-on-year, across 100,520 transactions.

Sharjah Launches Seven New UAE Real Estate Projects

Sharjah launched seven new projects covering 16.2 million square metres. Two of these, Anantara Sharjah Residences and Faradis Tower, are available for purchase by non-citizens and Gulf nationals.

The emirate recorded property transactions worth AED18.2 billion, a 35.6 percent increase year-on-year.

In addition, Ras Al Khaimah introduced four new real estate projects during this period.

Source: arabianbusiness.com