The UAE real estate market is set for strong growth in Q4 2024 with rising demand across all sectors. Despite global challenges, the market continues to show resilience with off-plan property transactions up 50.3% in Q3 and a 35.6% increase in sales transactions year-to-date in Dubai. High transaction volumes, rising rents and a flight-to-quality trend for prime assets are driving the market’s upward trajectory.

Dubai’s residential sector is booming with 7,400 units delivered in Q3 and 13,500 more expected in Q4. Rent for apartments rose by 19.1% and villas by 12.5% as demand continues to outpace supply. Abu Dhabi also saw growth with residential prices up 8.5% for apartments and 8.1% for villas.

The commercial sector is experiencing strong demand particularly for prime office space with rents in Abu Dhabi up 10.8% and Dubai seeing rental growth of up to 15.3%. The hospitality sector is thriving as tourism numbers surge with both Dubai and Abu Dhabi benefiting from increased visitor arrivals and upcoming major events.

Overall, the UAE real estate market remains robust fueled by investor confidence, government initiatives and ongoing demand for quality properties.