According to data from the Dubai Land Department, Walid Al Zarooni, CEO of W Capital, stated that the Dubai real estate market has been increasing since the COVID-19 pandemic.
Between 2020 and 2021, sales increased from AED 69.80 billion to AED 149 billion and then to AED 265.50 billion. Around AED 517 billion from January 1 to December 27, 2024, and AED 401 billion in 2023 came next.
The W Capital had previously predicted that the Dubai real estate market would see record sales of over AED 120 billion in the summer of 2024.
Al Zarooni went on to say that these remarkable numbers demonstrate that Dubai real estate sales have more than doubled in the last year when compared to 2020, demonstrating the market’s robust and ongoing momentum and Dubai’s standing as the world’s greatest place to live and work.
In 2024, there were approximately 178,900 sales deals, the most ever, up more than 38% year-over-year (YoY) from 129,000 deals in 2023.
He said that the value of real estate transactions, such as sales, mortgages, and donations, rose by approximately 35% to AED 753 billion in 2024 from AED 554 billion the year before, surpassing the half-trillion dirham threshold for the third consecutive year.
From 169,720 real estate transactions in 2023 to 223,904 real estate transactions in 2024, the total number of real estate transactions increased by 32% year over year. Mortgages totalled AED 185.77 billion in 2024, with grants totalling AED 50.86 billion through 9,319 transactions.
In 2025, Al Zarooni anticipated that the market would continue to expand, both in terms of sales (albeit at a slower rate of 10 to 15%), which would bring sales closer to the AED 600 trillion mark, and in terms of transactions overall, which might surpass AED 850 billion.
The real estate industry in Dubai recorded the highest quarterly sales ever in the fourth quarter (Q4) of 2024, totalling over AED 142.7 billion.