In the first half of 2024, the UAE’s real estate market remained strong. It attracted investment thanks to the nation’s economic and financial stability as well as the introduction of brand-new, top-notch projects to satisfy the growing demand for a variety of real estate units.
Major real estate companies in the nation have reportedly started many large-scale projects since the year’s beginning, offering a wide range of investment options that present promising opportunities for investors and those hoping to live and work in the United Arab Emirates (WAM).
With both the public and private sectors introducing new infrastructure and real estate projects nationwide in 2024, the UAE real estate market is predicted to continue growing.
In 2024, several residential and commercial towers and complexes, along with office spaces, were launched as real estate projects to keep up with the growing number of companies and projects. With more than 12 new real estate projects introduced by firms like Emaar, Deyaar, and Dubai Investments in addition to The Dubai Mall’s expansion, Dubai accounted for the lion’s share of new real estate projects.
The number of residential properties in Dubai increased to 736,000 after approximately 6,600 new units were completed in the year’s first half. Furthermore, it is anticipated that in H2 2024, about 20,000 residential units will be delivered.
The real estate market in the emirate attracted about 50,000 new investors during that time, according to data released by the Dubai Land Department. The industry achieved impressive results, with the total value of real estate transactions reaching AED 346 billion, a growth of 23 percent year over year (YoY), and approximately 100,520 transactions completed.
In H1, Sharjah unveiled seven brand-new real estate projects covering 16.2 million square meters in total. Two of these projects—the Faradis Tower in the Al Mamzar neighborhood and the Anantara Sharjah Residences in Al Rifaah—have licenses to be sold to non-citizens and nationals of the Gulf. According to the Sharjah Real Estate Registration Department, the emirate was successful in solidifying its standing as one of the top real estate destinations, with property transactions totaling AED18.2 billion in the first half of the year, up 35.6 percent year over year.
In Ras Al Khaimah, about four new real estate projects were also introduced.
