Abu Dhabi [UAE], January 5 (ANI/WAM): The UAE's real estate sector experienced robust growth in 2024, with an increase in both new projects and infrastructure investments, solidifying its position as a cornerstone of the nation's economic development.
Real estate markets across the emirates continued to demonstrate vibrancy, attracting a significant volume of high-net-worth individuals and reinforcing the UAE’s status as a global hub for property investment, particularly in the luxury segment. Transaction volumes in Abu Dhabi, Dubai, Sharjah, and Ajman remained positive, driven by growing demand across various property categories.
Key Highlights from UAE’s Real Estate Market in 2024:
Total Real Estate Transactions: According to official data, the total value of real estate transactions across the four emirates reached approximately AED 893 billion by the end of 2024, with over 331,300 transactions recorded. Mortgage transactions alone totaled over AED 229.3 billion, with more than 50,000 transactions, excluding those in Ajman.
Abu Dhabi’s Growth: Abu Dhabi recorded real estate transactions valued at AED 79.3 billion, comprising 25,046 sales and mortgage transactions. The “Dari” platform reported AED 46.5 billion in sales, with 14,816 transactions, including 5,646 sales of ready units and 9,169 off-plan transactions. In total, 10,230 mortgage transactions were executed, valued at AED 32.8 billion.
Dubai’s Record-Breaking Year: Dubai’s real estate market reached new heights in 2024, surpassing AED 760.7 billion in total transactions across 226,000 deals. The city saw AED 522 billion in property sales through 180,000 transactions and AED 187 billion in mortgage transactions from 35,000 mortgages, setting new records for the market.
Sharjah's Continued Growth: Sharjah experienced solid growth, with transactions exceeding AED 36.4 billion from January to November 2024, including AED 9.5 billion in mortgage deals. Over 78,600 sales transactions were recorded, with 4,011 mortgage transactions contributing to the city’s success.
Ajman’s Real Estate Surge: Ajman saw remarkable growth, with real estate transactions reaching AED 16.9 billion in 2023, a 43% increase over the previous year. By October 2024, transactions had reached AED 16.35 billion, with 12,718 deals executed, further demonstrating the strength of Ajman’s growing real estate sector.
With strong market performance across the UAE in 2024, industry experts anticipate continued growth in 2025, fueled by a favorable investment environment and the execution of new projects that will attract both local and international investors.