The real estate market in the United Arab Emirates (UAE) experienced significant growth in 2023, with Dubai particularly seeing a 20.1% increase in residential home prices, driven by apartments and villas.
This growth trend is expected to continue into 2024, with a forecasted delivery of 68,880 residential units, primarily in Business Bay, District Seven, and Damac Lagoons. In Abu Dhabi, apartment prices rose by 1.1%, while villa prices remained stable.
Despite a slowdown in leasing activity, rental prices saw slight increases. In the hospitality sector, both Abu Dhabi and Dubai saw significant increases in visitors in 2023, leading to higher average rates and revenue per available room.
The industrial and logistics sector also experienced growth, with Abu Dhabi recording an increase in leasing contracts and Dubai a slight decline in registrations. Overall, the UAE remains a major tourism and business hub, with sustained growth expectations in the real estate, hospitality, and industrial sectors continuing into 2024.
Source https://www.khaleejtimes.com/uae/uae-dropped-from-financial-crime-watchs-grey-list