Dubai's real estate market saw a surge in transactions in Q3 2024 with over 47,300 deals totaling AED116.8bn ($31.8bn), marking a 42% increase in volume and a 33% rise in value compared to the previous year, according to Land Sterling’s report.

In Q3, approximately 7,000 new residential units were delivered with apartments accounting for 84% of completions. The majority of handovers were concentrated in Jumeirah Village Circle (JVC), followed by Mohammed Bin Rashid City and Dubai Harbour. There was also a notable rise in larger units, particularly two- and three-bedroom apartments.

The report highlighted off-plan sales as the dominant trend making up 71% of transaction volumes, driven by new projects and flexible payment plans. JVC, Dubai Hills Estate, Business Bay, Dubai South and Sobha Hartland 2 led in transaction volume while Dubai Hills Estate, Dubai South, Palm Jumeirah, Business Bay and The Valley topped in transaction value.

These trends reflect Dubai’s resilience and continued appeal as a global investment hub.