Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, reviewed the operations of the Dubai Land Department (DLD) and the progress of the Dubai Real Estate Sector Strategy 2033.
This strategy aligns with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen Dubai’s position as a global economic hub and a prime destination for real estate investments.
Sheikh Hamdan highlighted the impressive growth in Dubai’s real estate sector, showcasing the emirate’s rapid development and its growing appeal for global businesses, investors, and talent.
He emphasized the need for expanding real estate projects to match Dubai’s dynamic economy, creating more opportunities for both local and international investors. He noted that Dubai’s secure investment environment, supported by strong laws protecting investor rights and capital, is a key factor behind this remarkable growth.
During a meeting at The Executive Office, Sheikh Hamdan was briefed by Marwan Ahmed bin Ghalita, Director General of the DLD, about major initiatives supporting the Dubai Economic Agenda D33. This agenda aims to position Dubai among the top three global urban economies by enhancing real estate systems, integrating advanced technology, and providing a seamless experience for investors and customers alike.
The meeting also included Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications. Sheikh Hamdan underlined the critical role of the real estate sector in driving Dubai’s economy and contributing to its overall development.
Marwan Ahmed bin Ghalita detailed the future goals of the Dubai Real Estate Sector Strategy 2033, which focuses on strengthening Dubai’s position as a leader in real estate investment.
Key initiatives include promoting innovation, enhancing public-private partnerships, and improving customer satisfaction through the use of advanced artificial intelligence.
As of November 2024, Dubai recorded 188,000 real estate transactions, valued at AED625 billion. This marks a 38% increase in transaction volume and a 23% rise in value compared to 2023. Property sales alone crossed AED437 billion, reflecting a 33% growth from the same period last year.
Dubai’s commitment to innovation and sustainable growth in real estate underscores its ambition to remain a global leader in the sector.
