The real estate sector in the UAE sustained its growth trajectory throughout 2024, characterized by an uptick in real estate initiatives and infrastructure investments, solidifying its role as a vital component of the nation’s economic advancement.
The dynamic UAE real estate markets across the emirates highlighted the UAE’s position as a global center for property investments, making it an appealing destination for high-net-worth individuals who significantly contribute to market activity, especially in the luxury real estate segment.
Notable activity across major emirates
In the past year, the property markets in Abu Dhabi, Dubai, Sharjah, and Ajman experienced notable activity in transaction volumes, maintaining robust performance levels due to a variety of investment opportunities and an increasing demand for different types of properties.
As per official statistics from the local real estate authorities of these four emirates, the total value of real estate transactions reached approximately AED893 billion by the close of 2024, with over 331,300 transactions documented. Specifically, mortgage transactions alone surpassed AED229.3 billion, comprising more than 50,000 transactions, excluding mortgages in Ajman, WAM reported.
Abu Dhabi’s strong market performance
In Abu Dhabi, the real estate transactions totaled AED79.3 billion through 25,046 sales and mortgage transactions across a range of property types by the end of 2024.
The “Dari” platform, operated by the Department of Municipalities and Transport in Abu Dhabi, indicated that total sales since the start of the year exceeded AED46.5 billion, facilitated through 14,816 sales and purchase transactions. Moreover, this included 5,646 transactions for completed units and 9,169 for off-plan properties. Over the past year, the emirate recorded 10,230 mortgage transactions valued at AED32.8 billion.
Record-breaking performance in Dubai
Dubai set new records in real estate transaction values in 2024, amounting to over AED760.7 billion from 226,000 transactions. These figures underscore Dubai’s prominent role in providing diverse and appealing investment opportunities that have outstripped prior records.
According to the Dubai Land Department, property sales in the emirate reached AED522 billion through 180,000 sales transactions across various property categories. Mortgage transactions totaled AED187 billion from 35,000 mortgages by the end of 2024.
Sharjah’s resilient market growth
Sharjah demonstrated strong growth in its real estate sector, recording transactions worth over AED36.4 billion between January and November 2024, which included AED9.5 billion in mortgage transactions, as reported in monthly updates from the Sharjah Real Estate Registration Department.
Sharjah’s unique real estate projects enabled over 78,600 total sales transactions during the same timeframe, with 4,011 mortgage transactions noted.
Positive trends in Ajman’s real estate sector
In Ajman, real estate transaction values surpassed AED16.9 billion in 2023, reflecting a 43 percent increase compared to 2022. A total of 11,500 real estate transactions were conducted, with total trade volumes reaching AED10.2 billion across 8,675 trading activities.
The figures from Ajman illustrate the upward trend of its real estate sector, showcasing strong performance across numerous projects driven by various investment opportunities and rising demand for different property types throughout the emirate.
Continued growth expectations for 2025
The Ajman Department of Land and Real Estate Regulation reported that by the end of October 2024, real estate transactions in the emirate totaled AED16.35 billion, comprising approximately 12,718 transactions, highlighting the resilience and variety of investment options available in Ajman’s property market.
With favorable indicators in the real estate markets across the UAE in 2024, international forecasts anticipate continued growth in 2025, bolstered by the country’s supportive investment environment and the expected launch of several new real estate projects that will attract both local and international investments.
