Dubai’s real estate sector continues to demonstrate strong momentum, with total property transactions reaching AED 1.36 billion on 18 February 2024. The market was driven primarily by off-plan sales, which outpaced ready property transactions, highlighting sustained investor confidence in future developments.

Market Breakdown: Off-Plan vs. Ready Transactions

• Off-Plan Properties: AED 813.4 million (59.6% of total transactions)
• Ready Properties: AED 551.3 million (40.4% of total transactions)

The dominance of off-plan transactions (nearly 60%) underscores investor preference for new developments, driven by attractive payment plans, capital appreciation potential, and Dubai’s expanding infrastructure. Meanwhile, ready property transactions (40.4%) indicate strong end-user demand, particularly in established communities.

Off-Plan Transactions: Category Contribution

Total Off-Plan Transactions: AED 813.4 million

• Flats: AED 495.1 million (60.9% of off-plan transactions)
• Villas: AED 296.4 million (36.4% of off-plan transactions)
• Hotel Apartments & Rooms: AED 11.7 million (1.4% of off-plan transactions)
• Commercial: AED 10.3 million (1.3% of off-plan transactions)

Flats remained the most traded off-plan asset, capturing nearly 61% of total off-plan transactions, followed by villas at 36.4%. The relatively lower share of hotel apartments and commercial units suggests a primary focus on residential investments.

Ready Transactions: Category Contribution

Total Ready Transactions: AED 551.3 million

• Flats: AED 348.6 million (63.2% of ready transactions)
• Villas: AED 114.8 million (20.8% of ready transactions)
• Hotel Apartments & Rooms: AED 4.5 million (0.8% of ready transactions)
• Commercial: AED 83.4 million (15.1% of ready transactions)

Flats also dominated ready property sales, accounting for 63.2% of transactions. Villas (20.8%) and commercial units (15.1%) followed, reflecting continued interest in high-end residential properties and commercial investments.

Market Insights & Outlook

• Off-Plan Dominance: Nearly 60% of total transactions were off-plan, showing strong investor trust in Dubai’s property market.
• Flats Lead in Both Segments: Flats accounted for over 60% of both off-plan and ready sales, reinforcing demand for residential properties.
• Commercial Growth in Ready Market: The 15.1% share of commercial property in ready transactions highlights growing business activity in Dubai.

With sustained demand across both off-plan and ready properties, Dubai’s real estate market remains a lucrative space for investors and homebuyers, supported by high rental yields, long-term capital appreciation, and a resilient economic outlook.

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