The UAE real estate market showed strong growth in Q3 2024 with Dubai’s off-plan property sales rising 50.3% year-on-year, contributing to a 35.6% increase in residential transactions. Abu Dhabi’s residential market also saw significant growth with secondary market sales up 44.3% and apartment and villa prices rising 8.5% and 8.1%, respectively.

In Dubai, 7,400 residential units were delivered in Q3 with 13,500 more expected in Q4. Rental prices increased, reflecting high demand while off-plan sales remain a key driver. Abu Dhabi’s market saw a dip in off-plan sales but the demand for prime properties remains strong. New developments and strategic government initiatives are expected to fuel growth in Q4.

The hospitality sector in both cities is thriving driven by tourism with occupancy and revenue growth in hotels. The commercial market is also seeing strong demand for high-quality office spaces in both cities, pushing up rents, especially in Dubai’s CBD. Retail and industrial sectors are growing supported by increasing demand for prime locations and institutional-grade assets. The UAE's real estate market remains resilient with continued growth expected in Q4 and beyond.