The UAE’s real estate sector grew in the first half of 2024, attracting investment due to the country’s economic stability and new projects meeting rising demand.
According to the Emirates News Agency (WAM), major real estate companies have launched numerous large-scale projects since the start of the year, providing diverse investment options.
Dubai led with over 12 new projects from companies like Emaar, Deyaar, and Dubai Investments, including an expansion of The Dubai Mall.
The emirate completed around 6,600 new residential units, increasing the total to 736,000, with an additional 20,000 expected in the second half of 2024.
The Dubai Land Department reported that the sector attracted around 50,000 new investors, with real estate transactions reaching AED 346B (approximately $94.2B), a 23 percent increase year-on-year, across 100,520 transactions.
Sharjah launched seven new real estate projects covering 16.2 million square metres. Two of these, Anantara Sharjah Residences and Faradis Tower, are available for purchase by non-citizens and Gulf nationals.
The emirate recorded property transactions worth AED 18.2B, a 35.6 percent year-on-year increase.
Additionally, Ras Al Khaimah introduced four new real estate projects during this period.
