United Arab Emirates real estate sector continues to develop and attract investment in first half of 2024

Leading property companies in the UAE have launched many major projects since the beginning of the year, offering a variety of investment opportunities for investors and those wishing to live and work in the country. This is reported by Emirates News Agency (WAM), a partner of TV BRICS.

Experts expect the UAE property market to maintain its upward trend in 2024, with new projects from the government and private sector covering various property and infrastructure segments. Several residential and commercial developments, as well as office space, have been launched in the country in 2024, catering to the needs of a growing number of companies. 

In Dubai, new projects accounted for more than 12 initiatives.

Approximately 6,600 new residential units were completed in Dubai in the first half of the year, raising the total to 736,000. Around 20,000 residential units are expected to be completed in the second half of 2024.

According to the Dubai Land Department, the emirate's real estate sector attracted around 50,000 new investors in the first half of the year, with the total value of transactions reaching AED346 billion (US$94,2 billion), up 23 per cent compared to the same period last year. The total number of transactions totalled around 100,520.