Based on the results of H1 2024, the Dubai real estate market retains its appeal to investors, which can be explained by competent tourism and labor market policies as well as rapidly developing economy across the board. The given trend will persist, whipping up demand for housing purchase and lease.

In the first half of 2024, 30% more real estate transactions in both quantitative and monetary terms were concluded in Dubai than in the same period of 2023. Demand for apartments prevails; yet apartments account for half of the value of all transactions, with a significant volume falling to the share of land and villas.

In the first half of 2024, when compared to the first half of 2023, the median value per square foot increased for all property types. The largest increases are typical of land and commercial real estate. 22% of all transactions were backed by mortgage loans. With growing demand for property purchase, the demand for property lease is also burgeoning.

Over the year the median lease prices have grown in all real estate segments. At the moment, 68 Russian retailers are already represented on the Dubai market, of which nine entered the market in the first half of 2024. The UAE market of shopping centres is rapidly expanding, the focus being shifted to swiftly changing trends, introduction of new services, and the construction of new shopping malls.