Dubai, the commercial center of the Gulf, had a very busy year in 2024, with real estate transactions valued at well over $100 billion.
More than half of the total real estate turnover in the first ten months was attributable to home sales, according to official data released by the Alkhaleej newspaper on Friday.
According to data from Dubai’s Land Department, during the first ten months, real estate transactions totaled about 432 billion UAE dirhams ($118 billion).
According to the report, sales of apartments, villas, and hotel rooms totaled almost AED277 billion ($75.5 billion).
The majority of those transactions were apartment sales, which totaled roughly AED222 billion ($60.5 billion), followed by villa sales at AED48.3 billion ($13.1 billion) and hotel apartment sales at AED6.7 billion ($1.8 billion), according to the report.
