In the first half of 2024, Dubai’s real estate market experienced a significant unexpected growth.
During the first six months of 2024, real estate transactions in Dubai reached AED 103.8 billion, according to the latest report from Bayut. This period was marked by a notable increase in interest towards off-plan properties, reflecting a sustained growth in investment activity in the region.
Popular investment areas
Haider Ali Khan, CEO of Bayut, emphasized, “Over the past year, and particularly in the first six months of 2024, Dubai’s off-plan real estate market has seen robust development, showing impressive signs of extraordinary growth. Approximately 48,000 new units were launched in the first quarter alone, with demand remaining high amid continued influx of new residents.”
According to Bayut, key areas witnessing high demand for affordably priced off-plan properties include Dubai Investments Park (DIP), Dubailand, Dubai Residence Complex, and Dubai South. Projects such as Verdana 2 in DIP and Reportage Village in Dubailand have gained popularity among budget-focused investors.
Technological innovations and investment strategies
Technological advancements such as AI-based platforms play a crucial role in shaping investment strategies. For instance, the TruEstimate platform provides investors with enhanced market transparency, aiding in more informed decision-making.
Haider Ali Khan added, “The market dynamics remain robust due to ongoing infrastructure developments and Dubai government’s flexibility amidst global economic changes. During this growth phase in the off-plan real estate market, strategic initiatives like enhancing market transparency through advanced tools like TruEstimate will significantly bolster investor positions, providing real-time data and comprehensive market insights.”
Source: Bayut, Arabian Business
Buy property in Dubai today! Don’t miss out on leveraging the booming off-plan real estate market supported by innovation, stability, and high returns. Dubai continues to be one of the most attractive destinations for real estate investments worldwide, offering a wide range of opportunities for investors of all levels.
