2024 was a very busy year for Dubai, the Gulf’s commercial hub, with real estate deals totaling well over $100 billion.
According to official data released by the Alkhaleej newspaper on Friday, home sales accounted for more than half of the total real estate turnover in the first ten months.
The first ten months saw real estate transactions totaling roughly 432 billion UAE dirhams ($118 billion), according to data from Dubai’s Land Department.
The report claims that sales of hotel rooms, villas, and apartments came to nearly AED277 billion ($75.5 billion).
According to the report, the majority of those transactions were the sale of apartments, which brought in about AED222 billion ($60.5 billion). Villa sales came in second with AED48.3 billion ($13.1 billion) and hotel apartment sales with AED6.7 billion ($1.8 billion).
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