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Outlook for the Real Estate Market in the UAE
三月 1, 2024
Outlook for the Real Estate Market in the UAE 迪拜
By   Internet
  • 都市报
  • UAE Real Estate
  • Dubai Real Estate
  • Market Outlook
Abstract: In 2023, the UAE's real estate market demonstrated strong growth momentum and continued demand for property purchases. Despite expectations of declining global market demand, the outlook for 2024 remains positive. This information was confirmed at the "Capturing Growth Trends" real estate seminar held in Dubai.

Experts from JLL pointed out that this growth momentum is driven by the UAE's robust economic foundation, proactive government policies, and increased investor confidence. This trend opens up new opportunities for the rapid development of various markets and assets in the UAE, particularly in the medium to short term.


The seminar also emphasized the significant potential of the real estate market in the GCC region. With increasing private and government wealth and expanded infrastructure investments, the region is better equipped to withstand challenges such as inflation and rising interest rates compared to other global regions.


Analysts from JLL stated that the confidence and resilience exhibited by the UAE and GCC markets are reflected in positive trends in various macroeconomic indicators, with Dubai remaining the leader in the region's real estate market.


Outlook for the Real Estate Market in the UAE

Internet


As a global hub for finance and business, the UAE has seen increased demand for major asset types, attracting global investors seeking investment opportunities in the country. The residential, hospitality, and office sectors have performed exceptionally well in the UAE, while the commercial real estate market faces fierce competition, with high-quality properties in short supply.


James Allen, CEO of JLL Middle East and Africa, stated, "A resilient and stable real estate market has become a crucial support for the UAE's economic diversification strategy. Despite inflationary pressures, the market is expected to remain strong in 2024. Positive growth prospects and a stable investment environment elevate the UAE's position in attracting regional and international real estate investors."


During the conference, experts also discussed the residential market. While transaction volumes and values have increased annually, the pace of growth is expected to moderate. The luxury residential market remains niche, but high-end residences, healthcare and wellness developments, and shared living spaces are experiencing rapid growth. The positive momentum in the UAE residential market, despite rising land prices and construction costs, is expected to continue until 2024, with Dubai and Abu Dhabi markets particularly prominent.


Therefore, from the perspective of real estate experts, the real estate market in the UAE showed strong growth trends in 2023, with continued positive prospects for 2024. This trend is expected to bring sustained growth opportunities for investors and inject new momentum into the region's economic development.

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Outlook for the Real Estate Market in the UAE
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