The UAE real estate market’s continued growth across the emirates is being driven by strong economic fundamentals, government initiatives, and strategic investments, according to Asteco’s latest report.

The UAE’s real estate sector demonstrated robust growth in the second quarter of 2024. Key highlights include a significant increase in off-plan sales in Dubai, stable villa rental margins in Abu Dhabi, and migration trends favouring Sharjah. 

These indicators reflect the resilience and dynamism of the real estate market across the emirates.

Economic context

Earlier this year, the International Monetary Fund (IMF) forecasted a 4 per cent growth for the UAE economy in 2024, driven by robust activities in tourism, construction, manufacturing, and financial services.

The latest report from Asteco, a comprehensive real estate agency, outlines the growth fundamentals within the real estate sector, emphasising continued expansion supported by strong economic fundamentals and government initiatives, for the industry.

Abu Dhabi: residential and office market

Abu Dhabi saw the addition of approximately 2,400 residential units, particularly in areas such as Noya on Yas Island, Jubail Island, Masdar City, and Al Raha Beach. 

Several residential and mixed-use projects are planned for public launch throughout 2024, expanding the city’s real estate landscape.