Dubai's real estate sector rises in H1 of 2024

(MENAFN) Dubai's Real estate sector has experienced remarkable expansion throughout the first half of 2024, driven by multiple factors that underscore robust demand and heightened confidence among investors and tenants alike. Key drivers of this growth include investor-friendly policies, a tax-free environment, and substantial infrastructure developments such as the new airport, metro expansions, and the Etihad Rail. These initiatives have spurred interest in surrounding areas and bolstered enthusiasm for upcoming projects. The market has also benefited from a surge in new residents and ongoing construction of various new developments.

Search trends on Dubizzle, as revealed in an analysis obtained by Al Bayan, provide a comprehensive overview of Dubai's real estate dynamics during this period. Official data from the Dubai Land Department further corroborates this growth, showing a notable 12.2 percent increase in real estate sales transactions compared to the second half of 2023. The steady rise in property prices reflects strong demand and growing confidence among buyers and tenants, supported by proactive measures to streamline investment processes and enhance transparency in transactions.

Haider Ali Khan, CEO of Bayut and dubizzle and Head of dubizzle Group in the Middle East and North Africa, emphasized the significant momentum in Dubai's real estate market. He highlighted the city's facilitative environment for investors and the launch of numerous new projects, which have collectively propelled real estate transactions to unprecedented levels. This robust growth trajectory underscores Dubai's resilience and attractiveness as a prime destination for real estate investments, poised to sustain its upward trajectory in the foreseeable future. 

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