Safety and Security Enhance Continuity of Dubai Realty’s Upward Curve
Dubai has emerged as the world’s real estate hub, attracting investors with high returns and a secure environment. Amid global geopolitical tensions and economic uncertainty, the city’s stability has become a significant draw for investors. Dubai’s real estate sector has maintained its growth momentum and achieved record sales in recent years, driven by strong demand that continues to exceed expectations.
Global Appeal of Dubai’s Real Estate
The report highlights that Dubai has become a preferred choice for wealthy investors worldwide, reflected in the surging sales of luxury properties. Investors are attracted to Dubai due to its security, especially as many global capitals experience security challenges. Dubai’s ability to host major events and activities further underscores its safe environment for investment.
A Fertile Environment for Investment
Dubai offers a fertile environment for real estate investment, supported by various local and international factors that have strengthened its market position. This favorable climate has encouraged many international companies and brands to launch projects in the city. noted that Dubai’s real estate market has exceeded expectations since recovering from the COVID-19 pandemic.
Record Growth and Sales
Data from the Dubai Land Department (DLD) shows that real estate sales have exceeded AED 1.16 trillion over 55 months (January 2020 to July 2024). Sales rose from AED 69.8 billion in 2020 to AED 149 billion in 2021, AED 265.5 billion in 2022, and AED 401 billion in 2023. In the first seven months of 2024 alone, sales reached AED 283 billion. This record growth reflects the maturity of Dubai’s real estate market, supported by factors such as rapid economic recovery, a thriving tourism sector, and the emirate’s security.
Diverse Investor Base
Strong demand from global investors, with prominent nationalities including Indians, Chinese, Lebanese, Canadians, French, Italians, Dutch, Pakistanis, and Turks. The list also features Egyptians, Americans, Saudis, Russians, and Iranians. The real estate boom has benefited from the UAE’s positive economic conditions, attractive tax system, and cultural diversity, hosting around 200 nationalities.
Significant Sales Growth
Real estate sales in Dubai from January to July 2024 grew by 30.3 percent to reach AED 283.11 billion, compared to AED 217.2 billion in the same period in 2023. Total transactions in the Dubai real estate market from the beginning of 2024 to the end of July amounted to AED 415.55 billion, resulting from 123,250 deals. The sector also recorded its highest monthly sales performance in July 2024, totaling AED 50.78 billion, a growth of 35 percent compared to July 2023, surpassing the previous record set in November 2023.
Reference: Khaleej times
