The city's property market also saw an impressive increase in total sales value, reaching 227 billion dinars, equivalent to $61.8 billion. This marks a 31 percent rise compared to the same period in 2023. The surge reflects Dubai’s enduring appeal as a leading global real estate hub, driven by factors such as continued investor confidence, high demand for luxury properties, and favorable market conditions.
Dubai’s growth trajectory in the property sector has been marked by record-breaking achievements and new benchmarks. Engel & Volkers Middle East attributes this success to the city’s stable economic environment and strategic development projects. The market’s resilience and attractiveness are evident as it continues to outperform previous records.
In addition to transaction volume and sales value, Dubai’s luxury segment has seen particularly strong performance. High-net-worth individuals and international investors have been actively seeking high-end properties, contributing significantly to the overall growth. The report notes that the demand for premium residential units is a key driver of the market’s expansion.
The increase in property sales comes amid a broader trend of recovery and growth in the Gulf region’s real estate sector. As cities like Dubai continue to enhance their infrastructure and offer competitive investment opportunities, the region remains a favored destination for global real estate investors.
Dubai’s proactive approach in urban development, along with its favorable economic policies, has solidified its position as a major player in the global property market. The city’s ability to attract investment and maintain a high level of market activity underscores its resilience and ongoing appeal to buyers and investors alike.
The latest figures from Engel & Volkers Middle East not only showcase Dubai’s robust real estate market but also highlight its potential for continued growth. As the city sets new records and benchmarks, it continues to stand out as a prime destination for property investment in the Middle East.