Page 216 - 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
economic influence within the emirate. This involves a significant increase in transaction volumes
and reinforces Dubai’s status as a leading destination for international investors.
Reflecting its robust strength and resilience, Dubai’s property market achieved over 163,000
transactions, totaling more than AED544 billion in the first nine months of 2024. Real estate
investments also witnessed notable growth, surpassing AED376 billion during this period, propelled
by advanced infrastructure and a solid regulatory framework.
The Dubai Real Estate Sector Strategy 2033 aims to achieve its ambitious goals through a set of key
performance indicators. These include doubling the real estate sector’s contribution to Dubai’s GDP
to approximately AED73 billion, increasing homeownership rates to 33 percent, boosting real estate
transactions by 70 percent, elevating the market value to AED1 trillion, and expanding the value of
Dubai’s real estate portfolios twentyfold to AED20 billion.
For more news on real estate, click here.

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