Dubai Real Estate Market Review 04-Oct-2024
Dubai's real estate market reached a record AED 141.9 billion in Q3 2024. Reef To Invest Dh14 Billion In Property Market. Why more people will buy properties in coming years.
Dubai’s Real Estate Sales At All-Time High For Single Quarter
Dubai's real estate market reached a record AED 141.9 billion in Q3 2024, with 50,423 transactions, a 30.1% year-on-year value increase. Apartment and villa sales dominated, while plot sales surged. The market showed strong investor confidence, and primary sales outpaced secondary ones.
Read the full article on Realty Plus
MAG launches key residential tower in Dubai Sports City
MAG Lifestyle Development has launched MAG 777, a AED 350 million residential tower in Dubai Sports City, already 60% complete. The 22-storey building offers 261 modern apartments and is set for handover by 2025, combining luxury living with proximity to sports, shopping, and entertainment.
Read the full article on Zawya
Dubai: Reef To Invest Dh14 Billion In Property Market, Add 5,000 Units
Reef Luxury Developments plans to invest Dh14 billion across 30 Dubai projects, delivering 5,000 units by 2025. The developer will launch Dh5 billion worth of projects in the next three months, featuring innovative temperature-controlled sunken balconies. Their focus is on technology, design, and enhancing future living experiences.
Read the full article on MENAFN
Dubai Real Estate Analysts Reveal Optimistic Forecasts after 31% Surge in Property Sales
Dubai's real estate market grew 31% in the first half of 2024, driven by investor-friendly policies, infrastructure expansion, and rising expatriate numbers. Developers are responding with new projects, while sustainability and innovation are key future growth drivers, ensuring long-term investor confidence and continued market strength.
Read the full article on Business Outreach
Dubai's new real estate plan: Why more people will buy properties in coming years
Dubai's Real Estate Strategy 2033 aims to increase transactions to Dh1 trillion by 2030, boost homeownership to 33%, and enhance transparency. The strategy promotes affordable housing and long-term investments. Experts highlight increased mortgage options and a growing shift from renting to ownership, fostering market stability and growth.
Read the full article on Khaleej Times
Dubai real estate: Samana Developers launches AED 220mn Samana Park Meadows project in Dubailand
Samana Park Meadows comprises 221 units spread across 14 floors, including studios, one-bedroom, and two-bedroom flats, each featuring private pools.
Read the full article on Arabian Business
How Dubai Became a Hotspot for Ultra-Luxury Property Buyers
Dubai has become a global hotspot for ultra-luxury property buyers due to its strategic location, world-class infrastructure, tax incentives, and high quality of life. Diverse luxury offerings, a cosmopolitan lifestyle, and strong demand, especially post-pandemic, further bolster its appeal to affluent individuals seeking opulent living and investment opportunities.
Read the full article on INSC
Dubai real estate: London Gate and Franck Muller announce $436m branded residence tower with homes from $340,000
The luxury development is located in the heart of Dubai Marina and will feature residences from AED1.25m and has a planned handover by September 2027.
Read the full article on Arabian Business
Dubai Real Estate Transactions as Reported on the 3rd of October 2024
On October 3, 2024, Dubai's real estate market witnessed transactions amounting to a total of AED 3,123,123,856. This total value is distributed across both off-plan and ready properties, each contributing significantly to the overall market activity.
Off-Plan Transactions
The total value of off-plan properties amounted to AED 1,629,557,425, accounting for 52.2% of the day’s total transactions. Within this category, the breakdown is as follows:
Flats led the segment with transactions worth AED 1,265,890,954, making up 77.7% of the total off-plan value.
Villas followed, contributing AED 316,760,216, representing 19.4% of the off-plan total.
Commercial properties added AED 29,700,328, equating to 1.8% of the off-plan transactions.
Hotel Apartments & Rooms showed modest activity, with transactions worth AED 17,205,927, making up 1.1% of the total off-plan value.
Ready Transactions
Ready properties, on the other hand, contributed a total of AED 1,493,566,431, making up 47.8% of the overall market activity. A closer look at the ready segment reveals:
Flats were the top performers with transactions worth AED 523,130,356, representing 35.0% of the total ready property value.
Villas contributed AED 121,439,678, making up 8.1% of the ready category.
Hotel Apartments & Rooms dominated the ready category with transactions worth AED 739,198,545, accounting for a significant 49.5% of the ready property total.
Commercial properties followed, contributing AED 109,797,852, making up 7.4% of the total ready transactions.
Key Insights
The data from October 3, 2024, highlights a balanced distribution between off-plan and ready property transactions, with off-plan slightly leading at 52.2% of the total market. Among off-plan properties, flats are the dominant force, while in the ready segment, hotel apartments and rooms take the lead, contributing the most value.
This transaction activity reflects Dubai’s dynamic real estate market, where diverse property types, ranging from residential flats and villas to commercial spaces and hotel apartments, continue to attract investors. The high contribution of off-plan flats and ready hotel apartments suggests a strong investor focus on residential and hospitality sectors, aligning with Dubai’s long-term growth strategies.
The sustained demand across these categories demonstrates the city's appeal as a global real estate hub, offering opportunities for both individual buyers and large-scale investors.
Data Source: Dubai Land Department