Dubai’s real estate market is on track to break records in 2023, reaching $108.9 billion, according to W Capital. The current value stands at $107 billion, and it is projected to exceed AED400 billion with over 127,000 deals. CEO Walid Al Zarooni foresees growth not only in luxury properties but also in medium-sized, commercial, and hospitality sectors.
This upward trend is expected to continue into 2024, fueled by international investor interest and high-net-worth individuals. Al Zarooni anticipates rising deal volumes, a demand surge for ready to go properties, supply constraints, and a notable presence of “cash” buyers.
The positive outlook for the upcoming year is attributed to Dubai’s esteemed global standing, strategic location, streamlined procedures, tax exemptions, and other factors that make it an attractive hub for foreign real estate investment.
