With a rise in infrastructure investments and real estate developments, the UAE’s real estate industry continued to thrive in 2024, solidifying its standing as a major pillar of the nation’s economic expansion.
The UAE’s reputation as a major global center for real estate investments and a desirable location for wealthy people, who are essential in boosting market activity, especially in luxury real estate, was highlighted by the thriving real estate markets throughout the emirates.
Due to a wide range of investment opportunities and rising demand for different kinds of real estate, the property markets in Abu Dhabi, Dubai, Sharjah, and Ajman saw a notable increase in transaction volumes over the course of the previous year, maintaining favorable performance levels.
By the end of 2024, there were over 331,300 reported real estate transactions, with a total value of around AED893 billion, according to official data from the local real estate authorities of the four emirates. With over 50,000 transactions (not including mortgages in Ajman), mortgage transactions alone totaled over AED229.3 billion.
By the end of 2024, 25,046 sales and mortgage transactions involving a variety of property types in Abu Dhabi totaled AED79.3 billion in real estate transactions.
The Department of Municipalities and Transport in Abu Dhabi’s “Dari” platform revealed that 14,816 sales and buy transactions totaling more than AED46.5 billion have been made since the year’s beginning. These comprised 9,169 transactions for off-plan houses and 5,646 transactions for ready apartments. 10,230 mortgage transactions of AED32.8 billion were reported in the emirate during the previous 12 months.
In 2024, Dubai had record-breaking real estate transaction values, with 226,000 deals totaling over AED760.7 billion. These numbers demonstrate Dubai’s dominant position in providing a wide range of alluring investment options that have eclipsed historical highs.
The Dubai Land Department reports that 180,000 sales transactions involving a variety of property types brought the emirate’s total property sales to AED522 billion. By the end of 2024, 35,000 mortgages totaling AED 187 billion had been completed.
According to the monthly statistics from the Sharjah Real Estate Registration Department, Sharjah’s real estate industry continued to grow strongly, with transactions totaling over AED36.4 billion between January and November 2024, including AED9.5 billion in mortgage transactions.
During that time, 4,011 mortgage transactions were recorded, and nearly 78,600 sales transactions were made possible by Sharjah’s unique real estate projects.
In 2023, Ajman’s real estate transaction values topped AED16.9 billion, a staggering 43 percent increase over 2022. 11,500 real estate deals were completed, and 8,675 trading operations resulted in total trade volumes of AED 10.2 billion.
According to Ajman’s statistics, the real estate industry is on the rise, performing well across a wide range of projects due to a variety of investment options and the emirate’s expanding demand for different kinds of real estate.
According to the Ajman Department of Land and Real Estate Regulation, by the end of October 2024, the emirate’s real estate transactions totaled AED16.35 billion, comprising roughly 12,718 transactions. This indicates the property market’s strength and variety of investment possibilities.
With promising signs for the UAE’s real estate markets in 2024, foreign reports forecast further expansion in 2025, bolstered by the favorable investment climate in the nation and the expected completion of a number of new real estate projects that will draw in both domestic and foreign capital.
