Dubai’s off-plan real estate sector has surged to unprecedented levels in 2024, with sales hitting a staggering $24.5 billion (AED 90 billion) in the first half of the year, according to industry reports. The booming market is being fueled by high investment returns, flexible payment options, and a steady influx of foreign buyers seeking lucrative opportunities in the emirate’s thriving property sector.

Analysts attribute the surge to Dubai’s resilient economy, tax-free environment, and developer incentives such as post-handover payment plans and high rental yields. Major projects in hotspots like Downtown Dubai, Palm Jumeirah, and Dubai Marina continue to attract both local and international investors, with many opting for off-plan purchases due to lower entry costs and potential capital appreciation.

“The off-plan market is outperforming expectations, driven by strong demand from cash and mortgage buyers,” said Ahmed Al-Hashimi, a senior real estate analyst. “Developers are offering competitive financing solutions, making it easier for investors to enter the market.”

With Dubai’s population growth and upcoming mega-projects like Expo City and Mohammed Bin Rashid City, experts predict the off-plan boom will continue, solidifying the emirate’s position as a global real estate hotspot.