Dubai Real Estate Predictions 2024

Dubai market overview

Deloitte’s 10th annual Real Estate Predictions report focuses on the performance of Dubai’s real estate market in 2023, forecasting the changes in the hospitality, residential, office, retail, industrial and logistics sectors in 2024.

The Dubai real estate market performance has been robust across all sectors fueled by the preferred safe haven status of the Emirate, amidst geopolitical and economic headwinds in other global investment markets. Key economic and demographic statistics also indicate growth compared to the previous year. As of June 2023, Dubai’s population has crossed 3.6 million, marking a 1.4% year-to-date increase compared to the prior year. The number of tourist arrivals also saw an increase of 19.9% from January to November 2023, reaching 15.4 million tourists. Moreover, the gross domestic product (GDP) for the first half of 2023 exhibited a growth of 3.2%, totaling AED 223.8 billion. Among industries, the transport and storage sector notably outperformed others, experiencing a 10.5% expansion during this period.

Dubai Real Estate Predictions 2024

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