UAE Real Estate Sector Gains Momentum as Transaction Values Surge

The UAE real estate market maintains its upward trajectory, supported by a significant increase in transaction volumes and values across the major emirates. Recent economic data and market reports indicate that the sector remains a primary driver of the nation’s non-oil GDP growth, fueled by high demand for both residential and commercial properties. Dubai and Abu Dhabi Lead Market Expansion In Dubai, the total value of real estate transactions reached approximately AED 411.7 billion in 2023, representing a 56% increase compared to the previous year. This growth is largely attributed to the luxury segment and a surge in off-plan sales. Abu Dhabi also reported steady gains, with residential price indices showing a year-on-year increase of approximately 3.9%, driven by new project launches in areas such as Yas Island and Saadiyat Island. Investor Demand and Financial Stability The Central Bank of the UAE (CBUAE) reports that the sector continues to benefit from favorable regulatory changes, including the Golden Visa program and revised property ownership laws. Despite global interest rate fluctuations, domestic mortgage transactions grew by nearly 20% in the final quarter of the…