Page 215 - SOBHA REALTY PR REPORT - NOVEMBER 2024

11/6/24, 5:22 PM Dubai property sales hit record high of 20,460 deals in October: Report
Emaar, DAMAC and Sobha secured the largest number of off-plan sales in October. Emaar took the
biggest share of 16.3 percent with 2,053 sales, DAMAC accounted for 14.8 percent with 1,863
registrations, and Sobha accounted for 11.6 percent with 1,463.

Off-plan sales surge
Dubai’s property market had recorded 18,038 transactions in September 2024, an all-time monthly
high with 73 percent of properties under construction selling as off-plan, according to previous
insight from Property Monitor. The monthly analysis of Dubai’s property market revealed that
September’s transactions surpassed the previous record of 17,139 in May this year by almost 900,
highlighting continued growth and confidence in the sector.
“September 2024 was yet another ground-breaking month for Dubai’s real estate sector, setting new
records in both sales transactions and prices,” stated Henry Bacha, CEO of Property Monitor.
The analysis also expects Dubai’s real estate market to record a 30 percent year-on-year growth this
year. As of September, sales in 2024 passed 131,000, just under 2 percent less than the full year of
2023.
The September report noted a surge in mortgage activity, with transactions up 16.6 percent month-
on-month. Almost 4,200 registrations took place in September as investors took advantage of lower
interest rates. “A robust pipeline of new projects and easing mortgage rates continue to drive
demand for both off-plan and ready properties,” added Bacha.
Read: Sharjah real estate sees 69,078 transactions worth $7.62 billion in 9 months
Dubai Real Estate Sector Strategy 2033
The surge in property sales to all-time highs comes following the recent launch of the Dubai Real
Estate Sector Strategy 2033. The strategy presents a targeted plan designed to enhance the sector’s

https://economymiddleeast.com/news/dubai-property-sales-record-high-october-report/ 2/3