The UAE real estate market delivered strong performance in the third quarter of 2024, marked by an uptick in both residential and commercial sectors. As per the latest insights from Asteco, a leading property consultancy, key markets across the Emirates displayed resilience, with Dubai and Abu Dhabi continuing to see heightened demand for both sales and rentals. Despite global economic uncertainties, the property landscape in the UAE has proven to be stable, showcasing positive growth across various real estate segments.
In Dubai, the residential market remained a driving force, with high demand for luxury properties and villas continuing to increase. Prices in premium areas such as Palm Jumeirah, Downtown Dubai, and Emirates Hills showed a noticeable rise, reflecting investor confidence and a consistent flow of high-net-worth individuals. The performance of the city’s real estate sector has been bolstered by favorable government policies, such as the introduction of long-term visas for investors and the ongoing drive to improve infrastructure, making Dubai even more attractive for foreign investment.
The office space sector in Dubai also saw an uptick in demand, particularly for Grade A offices. As businesses have adapted to post-pandemic work patterns, the shift to hybrid working models has not dampened the demand for prime office locations. The hospitality sector, which was hit hard by the pandemic, is now on a recovery trajectory, driven by increased tourism and interna.
