The property sector’s growth is expected to continue over the next two years, with a record 90,000 new homes joining the market as Dubai real estate prepares for yet another new peak in 2024.
According to data released by Dubai-based fäm Properties ahead of The Game Changers – Dubai Real Estate Summit, 41,800 units are expected to hit the market in 2025, setting a record for a single year. This will bring the total number of units to 48,400 in 2026.
The summit, which will take place on October 24 at the Coca-Cola Arena, aims to give aspiring professionals professional guidance on how to thrive in Dubai’s cutthroat real estate market.
With 1,034 projects totaling 288,020 units currently under construction, the surge of new properties highlights the market’s ability to meet demand and reflects Dubai’s strong commitment to growth and expansion.
With the total for 2024 already at 99,779 and growing, the record of 101,654 launched units annually set in 2023 appears to be surpassed.
Speaking ahead of the event, Firas Al Msaddi, the CEO of fäm Properties, said: “There are 41,800 new units set to enter the market in 2025 – a record for a single year – rising to 48,400 in 2026. Meanwhile, the number of units delivered in 2027 and beyond will likely be driven by projects launched in 2025 onwards, pointing towards continued activity in the years to come.”
“The market’s ability to keep up with demand is also shown by the consistency we’re seeing in the volume of yearly launched properties. The total soared by more than 81% year on year in 2023, and that level is being matched this year,” he added.
Al Msaddi will be on stage alongside Ryan Serhant, a prominent US broker and reality TV personality, and Dr. Mahmoud AlBurai, Senior Director, real Estate Policies and Innovation at the Dubai Land Department, who will share his thoughts on how the emirate’s real estate market will be organized in the future.
“With the rapid growth that we’re seeing, real estate developers and contractors are facing increasing pressure to streamline their procurement processes,” stated Al Msaddi.
“The sector is grappling with significant logistics challenges, including availability and lead times of delivery, rising shipping costs, and the looming threat of global and regional geopolitical risks that could disrupt major trade routes,” he noted.
“Despite these challenges, real estate development management teams are working tirelessly to ensure that projects are delivered on time,” he added.