UAE real estate sees steady growth in projects, record transactions in 2024

The United Arab Emirates 's real estate sector maintained its growth momentum throughout 2024, marked by an increase in real estate projects and infrastructure investments, reinforcing its position as a key pillar of the country's economic growth. According to the official data from the local real estate authorities of the four emirates, the total value of real estate transactions reached approximately AED 893 billion by the end of 2024 The vibrant real estate markets across the emirates underscored the UAE's status as a global hub for property investments and an attractive destination for high-net-worth individuals who play a vital role in stimulating market activity, particularly in luxury real estate. In Abu Dhabi, the total real estate transactions amounted to AED 79.3 billion through 25,046 sales and mortgage transactions across various property types by the end of 2024. Ajman's figures highlight the upward trajectory of its real estate sector, with strong performance across numerous projects driven by diverse investment opportunities and growing demand for various property types throughout the emirate. The Ajman Department of Land and Real Estate Regulation reported that real estate transactions in the emirate reached AED 16.35 billion by the end of October 2024, encompassing approximately 12,718 transactions, showcasing the resilience and diversity of investment options in Ajman's property market.