Dubai has launched its Real Estate Sector Strategy 2033, targeting a property market value of AED 1T ($272B) with objectives to elevate economic contribution, increase homeownership, and solidify Dubai’s standing as a premier investment destination. This plan aspires to double the sector’s GDP contribution to AED 73B ($19.9B), raise homeownership to 33 percent, and boost transaction volumes by 70 percent. In the first nine months of 2024, Dubai’s property market recorded over 163,000 transactions, worth AED 544B ($151B), driven by advanced infrastructure and regulatory stability.
Key pillars of the strategy include fostering a sustainable market with transparent data, resilient market structures, and a continuous focus on innovation. The strategy aligns with Dubai’s Economic Agenda D33 and Urban Master Plan 2040, supporting the vision of Sheikh Mohammed bin Rashid Al Maktoum to establish Dubai as a global leader in sustainable real estate.
Among its initiatives, the plan includes programmes focused on transparency, global marketing, affordable housing, and Emiratisation, such as the Dubai Real Estate Brokers Programme, which supports Emiratis in brokerage through training and innovation.
Technology is central to the strategy, with Artificial Intelligence (AI) playing a significant role in enhancing efficiency, customer experience, and investment insights. The Real Estate Evolution Space (REES) aims to advance PropTech, encouraging public-private partnerships and supporting real estate innovation, customer satisfaction, and operational efficiency. By fostering a strong ecosystem for PropTech, the strategy further attracts global investors, especially from emerging markets, and establishes Dubai as a prominent leader in sustainable real estate innovation and competitiveness.
This comprehensive approach, with targeted 10-year programmes, is designed to boost Dubai’s property market while creating a high-quality, attractive lifestyle that draws long-term investors.
